Bank Indonesia (BI) announced plans to launch its own stablecoin, a digital version of the national currency backed by government bonds. The new instrument will be part of the country’s broader strategy to boost the development of its digital economy.
Governor of Bank Indonesia, Perry Warjiyo, stated that the regulator is preparing to issue a national stablecoin, a digital Indonesian rupiah secured by government bonds (SBN). The announcement was made during his speech at the FEKDI x IFSE 2025 forum, CNBC reports.
According to Warjiyo, the digital rupiah and its related securitized assets will mark a new stage in the digitalization of Indonesia’s financial system. The stablecoin will serve as a key element in the regulator’s three-pronged strategy focused on:
- advancing innovation in digital payments;
- strengthening the structure of the financial industry;
- ensuring financial stability.
Earlier, representatives of Indonesia’s Financial Services Authority (OJK) emphasized that even though stablecoins don’t have official status as legal tender, they already play an important role in the country’s financial system. In his comment to CNBC, Dino Milano Siregar, Executive Director of OJK’s Financial Tech Innovation and Crypto-Assets, said that OJK includes stablecoins in the exchange monitoring system and in oversight of traders. The agency set specific rules, including compliance with anti-money laundering principles and mandatory reporting.
He added that stablecoins backed by legitimate and reliable assets are already being used in Indonesia as a tool to hedge against currency risks. Such assets, he noted, demonstrate more predictable dynamics and significantly lower volatility compared to other cryptocurrencies.
Bank Indonesia has been exploring the potential issuance and use of a central bank digital currency (CBDC) since 2022, while also advocating for stronger regulation of the cryptocurrency market.
