Coinfest Asia 2024 was successfully held in Nuanu City, Bali, on August 22-23, 2024. As the
largest crypto and Web3 festival in Asia, the event attracted over 6,000 participants from various
countries, marking a pivotal moment for the Web3 industry in the region.
Kasan, Head of the Commodity Futures Trading Regulatory Agency (BAPPEBTI), underscored
the significance of Coinfest Asia as a leading platform for crypto asset industry stakeholders to
exchange knowledge, collaborate, and foster innovation.
“Coinfest Asia serves as a crucial platform for industry players to share insights, collaborate,
and explore innovations in blockchain and Web3 technologies, all of which are vital to
strengthening the national crypto asset sector,” Kasan stated.
Now in its third edition, Coinfest Asia has experienced impressive growth, with a 50% increase
in annual participants—from 2,000 attendees in its inaugural year in 2022 to 4,000 in 2023, and
surpassing 6,000 in 2024.
According to Felita Setiawan, the notable growth this year was driven by the increasingly
favorable conditions within the Web3 and crypto industries.
“This year, the market conditions are significantly more positive, and participant engagement
has been markedly higher. We introduced more interactive panel sessions, enabling direct
interaction between attendees and speakers. Additionally, the event was designed to be more
immersive, incorporating activities tailored to various audiences, including gamers and
developers,” remarked Felita Setiawan.
With the theme “Where Innovation Meets Adoption,” Coinfest Asia 2024 successfully brought
together over 150 global experts in crypto and Web3, hosted 100 panel discussions, 100 side
events, and facilitated the formation of more than 25,000 meaningful connections, fostering
business opportunities and innovation.
The event also provided a unique opportunity for global Web3 companies to assess Indonesia’s
potential within the global Web3 landscape. Companies such as Internet Computer, Manta, and
Pendle expressed admiration for the enthusiasm and rapid growth of Indonesia’s Web3
ecosystem.
Dominic Williams, Founder & Chief Scientist at DFINITY Foundation (Internet Computer),
commented, “The caliber of Indonesian developers is among the highest globally—this was an
unexpected discovery. We are extremely optimistic about Indonesia.”
Victor Ji, Co-Founder of Manta, shared his perspective: “I am very optimistic about the
community here. They are deeply invested in the user experience and the products they build.”
Anthony, Head of Growth at Pendle, echoed this sentiment, adding, “The growth of Web3 in
Indonesia is clearly evident, reflected by the vibrant energy I witnessed at Coinfest.”
Coinfest Asia Goals and Vision for the 2025
2025 is anticipated to be a transformative year for the crypto industry, particularly in Indonesia.
Beginning in January 2025, the Financial Services Authority (OJK) will assume regulatory
oversight of the crypto industry from BAPPEBTI, a shift expected to foster a more conducive
and stable environment for the crypto and Web3 sectors.
As the adoption of blockchain and crypto technology continues to accelerate globally, Coinfest
Asia 2025 will return with a focus on addressing critical industry challenges, including
advancements in Real World Assets (RWA), Digital Identity, AI in blockchain, and navigating
increasingly complex regulatory landscapes. Additionally, Coinfest Asia 2025 will serve as a
stage for significant announcements from leading crypto projects, poised to drive substantial
industry developments.
Felita Setiawan remarked, “Coinfest Asia 2025 aims not only to double this year’s participation
but also to elevate the event to new heights. We intend to introduce enhanced interactive
experiences, welcome more global industry leaders, and expand networking opportunities to
accommodate the growing demand for and relevance of Web3 technologies in Asia.”
About Coinfest Asia
Coinfest Asia is the largest global festival dedicated to crypto and Web3, uniting industry
leaders, innovators, and communities to engage, learn, and collaborate on shaping the future of
Web3 technologies. Held annually in Bali, Coinfest Asia continues to serve as the premier
platform for expanding the industry’s reach and strengthening its ecosystem within the region.
Coinfest Asia 2024 was proudly supported by over 60 sponsors, including Polkadot, Mandala
Chain, Coinstore, OKEx Wallet, CoinTech2u, CFX, Aptos, Haqq, Google Cloud, Ripple, Indodax,
Tokocrypto, Pintu, Triv, Cloudmile, MEEET, Staynex, W3GG, BRI Bank, Bitget, and many more.
