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Executive Column: Pintu CEO says education vital in crypto industry
As Indonesians enter the crypto market in droves, Pintu CEO Jeth Soetoyo says investment education is crucial.
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Jeth Soetoyo, founder and CEO of crypto exchange platform Pintu (Courtesy of Pintu/-)
T
em>The cryptocurrency craze has caught on in Indonesia. In May, the country had 6.5 million crypto investors, handily exceeding the 5.37 million retail investors registered with the Indonesia Stock Exchange (IDX). Despite the buzz, many still do not understand digital assets, and crypto investment is often associated with fraud.
Jeth Soetoyo, the CEO of crypto investment app Pintu, spoke with The Jakarta Post’s Eisya A. Eloksari on Dec. 8 to discuss how the start-up is learning alongside Indonesia’s new crypto investors and to share his ideas on how to improve the cryptocurrency ecosystem.
Question: How has the cryptocurrency ecosystem grown over the past years?
Answer: Crypto tends to be driven by macroeconomic policies. I think around the world a lot of governments are injecting additional liquidity and doing a lot of quantitative easing, which pushes people to take more risks in terms of their investments.
As interest rates in traditional assets trend toward zero, a lot of people are looking for products with higher yields, and as that happens, crypto is one of those products that has generated a lot of returns in the past two years.
We also see off-the-charts user growth. According to Amplitude’s Product Report 2021, as of October, Pintu achieved 1,236 percent growth in monthly active users in a 13-month period, with over 700,000 monthly active users.
