Indonesia’s Crypto Bourse Launches CFX10, the Country’s First Crypto Asset Index

PT Central Finansial X (CFX), Indonesia’s licensed crypto asset exchange operating under supervision from the Financial Services Authority (OJK), has launched CFX10 — the country’s first dedicated crypto asset index. The move marks a structural step toward giving Indonesia’s fast-growing crypto market a standardized, transparent benchmark, something the local industry has lacked despite years of rapid retail growth.

What CFX10 actually measures

CFX10 tracks the performance of the ten largest crypto assets listed on CFX’s Digital Financial Asset List (DAKD), weighted primarily by market capitalization. Index inclusion isn’t automatic: a constituent must clear a monthly trading-volume threshold above the three-month average across all DAKD-listed assets, must be traded by a minimum number of registered crypto traders (PAKD) relative to the industry average, and must not fall into the stablecoin, wrapped-asset, or staked-asset categories. Final selection is then based on global market-cap ranking among assets that pass those filters. The constituent list is reviewed and rebalanced every three months.

As of launch, the CFX10 basket consists of Bitcoin (BTC), Ethereum (ETH), BNB, XRP, Solana (SOL), Tron (TRX), Dogecoin (DOGE), Hyperliquid (HYPE), Bitcoin Cash (BCH), and Cardano (ADA) — a composition that closely mirrors global market-cap rankings rather than any Indonesia-specific weighting, which is consistent with CFX’s stated goal of reflecting “real market conditions” rather than constructing a thematic or curated product.

Why CFX is building this now

CFX President Director Subani framed the index as filling a structural gap: until now, there has been no single parameter capable of representing the overall state of Indonesia’s crypto asset market. CFX10 is positioned to close that gap with a transparent, rules-based methodology that market participants — traders, media, and eventually institutional players — can reference the way equity investors reference a benchmark index.

That framing matters in context. CFX itself was established under Indonesia’s 2023 regulatory overhaul, which moved oversight of crypto trading toward OJK and the Bappebti-rooted bourse-clearinghouse-custodian structure built specifically to formalize what was previously a fragmented, exchange-by-exchange market. An index is a natural next step in that formalization arc: it converts a patchwork of individually reported trades across CFX’s member exchanges into a single, citable data point.

The bigger signal

Subani also described CFX10 as a potential “forerunner” for further derivative products — index-linked instruments, structured products, or benchmark-tracking offerings that don’t yet exist in Indonesia’s regulated crypto space. If that materializes, CFX10 could become the foundation for the kind of index-derivative ecosystem that’s already standard in traditional Indonesian capital markets (think IDX30 or LQ45-linked products), just applied to crypto for the first time domestically.

For a market with one of the largest retail crypto user bases in Southeast Asia, a credible, methodology-driven index is arguably overdue — and its real test will be whether trading platforms, media, and eventually fund products actually adopt CFX10 as a reference rate over the coming quarters.

Primary Sources

1. VOI – “CFX Crypto Exchange Launches CFX10, Indonesia’s First Crypto Asset Index” (June 9, 2026): https://voi.id/en/economy/579303
2. CFX official index methodology page – “CFX10 Token Index”: https://www.cfx.co.id/en/market-data/token-index
3. CFX official site (corporate/regulatory background): https://www.cfx.co.id/en