Financial institution Indonesia (BI), Indonesia’s central financial institution, is shifting forward with plans to situation what it describes as its “nationwide stablecoin model,” a digital foreign money backed by authorities bonds (SBN).
The initiative was unveiled by central financial institution Governor Perry Warjiyo throughout the Indonesia Digital Finance and Economic system Pageant and Fintech Summit 2025 in Jakarta on Thursday, according to a report by CNBC Indonesia.
Through the summit, Warjiyo mentioned Financial institution Indonesia plans to situation digital central financial institution securities, that are tokenized variations of SBN. The digital securities will probably be backed by the digital rupiah, the nation’s central bank digital currency (CBDC).
In brief, Financial institution Indonesia’s deliberate digital securities will probably be derived from the digital rupiah and backed by authorities bonds (SBN), forming what the central financial institution calls Indonesia’s nationwide model of a stablecoin.
“We are going to situation Financial institution Indonesia securities in digital type — the digital rupiah with underlying SBN, Indonesia’s nationwide model of a stablecoin,” Warjiyo mentioned.
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The digital securities are designed to enhance BI’s broader digital finance technique. If realized, this could mark a serious step in integrating blockchain into Indonesia’s financial framework, per the report.
Whereas stablecoins aren’t but authorized tender in Indonesia, the nation’s Monetary Companies Authority, the OJK, has began monitoring their use as a consequence of their rising significance in funds and remittances.
Dino Milano Siregar, head of the OJK’s crypto and digital asset division, mentioned the regulator enforces Anti-Money Laundering (AML) compliance and periodic reporting necessities for stablecoin merchants.
Siregar famous that even with out formal recognition as fee devices, stablecoins are already getting used as hedging instruments, notably these backed by credible underlying property. “These property are tradable and much much less risky than different cryptocurrencies,” he mentioned.
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In August, native advocacy group Bitcoin Indonesia revealed that the Indonesian government has been exploring Bitcoin (BTC) as a reserve asset, including that they’ve met with officers to debate how the technique might drive financial development within the nation.
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