Targeting the Young Generation, Pluang Presents Crypto Asset Services

Based on data released by the Commodity Futures Trading Supervisor (CoFTRA), it is currently recorded that the number of investors and the value of crypto asset transactions in Indonesia in early 2022 increased quite significantly.

The value of crypto asset transactions in Indonesia grew from IDR 64.9 trillion in 2020 to IDR 859.4 trillion in 2021. The increase in the growth of crypto-asset transactions reached 16.2% per month.

This increasing demand is utilized by Pluang, which is a multi-asset investment platform, to provide crypto asset services. In collaboration with PT Bumi Santosa Cemerlang (BSC) as a partner, Pluang is currently able to trade crypto assets that have been registered with BAPPEBTI.

Pluang’s Director of External Affairs Wilson Andrew said, “Pluang is committed to providing the widest possible convenience and access to crypto-asset investors with good security guarantees.”

Want to Maximize Potential

Armed with a license as a potential physical trader of crypto assets, Pluang together with BSC want to maximize the potential of this digital access openness to continue to encourage the growth of the digital economy.

Investments in crypto assets in Pluang can be made starting from IDR 5 thousand and with just three clicks on the application.

BSC is a partner of Pluang who has just obtained a license as a Prospective Crypto Asset Physical Trader through the Decree of the Head of BAPPEBTI number 012/BAPPEBTI/CP-AK/4/2022.

“With this collaboration, Pluang and BSC can provide access to crypto asset trading that is safe, trusted, and supervised by the competent authorities with a registration certificate from CoFTRA,” said Wilson.

Previously, Pluang had also partnered with PT Aset Digital Berkat (Tokocrypto) and PT Zipmex Exchange Indonesia (Zipmex) in providing access to crypto-asset investment.

Pluang has also pocketed a digital gold trading license from BAPPEBTI in offering its digital gold assets, Pluang is collaborating with PT Pluang Emas Sejahtera (PES) which is registered as a physical-digital gold trader.

This permit allows Pluang to offer digital gold products to its users safely and securely under the regulation and supervision of Indonesian state institutions.

Focus on Being a Multi-Asset Investment Platform Service

Founded by Claudia Kolonas and Richard Chua, Pluang currently claims to have more than 6.7 million registered users on its platform.

They also have several investment products including Digital Gold, Micro E-Mini Index Futures, US Stock CFDs, Digital Assets, and Mutual Funds. The existence of various kinds of investment assets is a commitment from Pluang to make it easier for the public to diversify their portfolios.

After launching crypto-asset services, in the future Pluang also has plans to continue to innovate both in terms of adding asset classes and complementary features to make it easier for investors in Indonesia to diversify assets.

“We also continue to conduct market research to answer the latest needs of investors, especially retail investors among millennials, and are currently working on several new product innovations to respond to the growing investment trend in today’s society,” said Wilson.

Currently, Pluang has experienced an increase in the number of users up to 10 times. This massive growth was also contributed by the increasing number of crypto investors in Pluang.

With this positive trend and legality from the competent authorities, the company is optimistic that in the future the number of crypto investors will continue to grow and crypto investment transactions will be more secure.

“This increasingly mature ecosystem will help support the growth of the digital economy in Indonesia, especially in terms of digital asset investment,” said Wilson.

In early 2021, Pluang had completed a $20 million pre-series B fundraising or 288.8 billion Rupiah. The funding consortium is led by Openspace Ventures supported by investors who have been involved in previous rounds, including Go-Ventures. Previously, Pluang had secured $3 million in Series A funding in March 2019.