Stockbit Introduces Crypto Asset Investment Product "Stockbit Crypto"

Platform wealthtech Stockbit continues to enrich its investment product portfolio, now entering the "Stockbit Crypto" crypto asset investment. Separate applications can already be downloaded via Google Play and the App Store.

Previously rumors of Stockbit entering this asset class had been wafted since June 2022, but all parties were still keeping their mouths shut. At that time, in a job search site, the company was looking for the right team to handle the product.

On the site, it was stated that Stockbit Crypto is run by PT Coinbit Digital Indonesia. When contacted DailySocial.id, the company representative said that Coinbit was part of Stockbit since the beginning which was initiated directly by the internal team. “Stockbit team development Coinbit from scratch,” said a Stockbit representative.

Quote from CoFTRA website, PT Coinbit Digital Indonesia has been registered as a crypto physical asset trader since April 2022.

All investment products provided by Stockbit are available in separate applications. Stockbit for stock investment, Seed for mutual fund investment, and Stockbit Crypto for crypto asset investment.

Crypto market

Previously, OJK issued ban letter to all companies in the capital market for marketing, promotion, or advertising activities for financial service products and services, other than those licensed by the OJK, including securities issued abroad (offshore products).

This ban has an impact on a number of applications wealthtech which offers investment products under the supervision of OJK and CoFTRA. Magic originally incorporated a crypto asset investment product into its main application, now comes separately with the product Crypto Magic.

According to CoFTRA's records, the number of crypto investors in Indonesia as of August 2022 reached 16,1 million people, up from 2021 million at the end of 11,2. Meanwhile, the transaction value in the January-August 2022 period was IDR 249,3 trillion.

Indodax CEO Oscar Darmawan said the significant increase in the number of crypto investors indicated that investments in this asset class were still in great demand by the public. "Despite this year, the crypto market is entering a phase Winter"In fact, there are still many crypto investment enthusiasts, which is evidenced by the increase in the number of crypto investors," he said as quoted from Cash.

According to him, it is precisely the moment when market currently bearish This can be used by crypto investors, old or new, to pool their portfolio of assets at low prices so they can be resold when the price rises again in two to three years.

"With the number of investors who have reached 16,1 million investors, it is not impossible that in 2023 the number could reach 20 million investors." Obviously.