Bank Indonesia (BI), the nation’s central bank, is progressing with plans to launch its “national stablecoin version,” a digital currency supported by government bonds (SBN).
This initiative was announced by central bank Governor Perry Warjiyo at the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta on Thursday, according to CNBC Indonesia’s report.
During the summit, Warjiyo mentioned that Bank Indonesia intends to issue digital central bank securities, which are tokenized equivalents of SBN. These digital securities will be underpinned by the digital rupiah, the country’s central bank digital currency (CBDC).
In summary, Bank Indonesia’s proposed digital securities will originate from the digital rupiah and be secured by government bonds (SBN), creating what the central bank defines as Indonesia’s national stablecoin.
“We will issue Bank Indonesia securities in digital form — the digital rupiah with underlying SBN, Indonesia’s national version of a stablecoin,” Warjiyo stated.
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The digital securities aim to enhance BI’s broader digital finance agenda. If executed, this would represent a significant advancement in incorporating blockchain into Indonesia’s monetary system, according to the report.
Although stablecoins are not yet classified as legal tender in Indonesia, the country’s Financial Services Authority, the OJK, has begun monitoring their usage due to their increasing relevance in payments and remittances.
Dino Milano Siregar, head of the OJK’s crypto and digital asset division, stated that the regulator ensures compliance with Anti-Money Laundering (AML) laws and requires periodic reporting from stablecoin traders.
Siregar emphasized that even without formal status as payment instruments, stablecoins are already utilized as hedging options, especially those supported by reliable underlying assets. “These assets are tradable and considerably less volatile than other cryptocurrencies,” he remarked.
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Indonesia ranks seventh in global cryptocurrency adoption
Indonesia achieved the seventh position in Chainalysis’s 2025 Global Crypto Adoption Index, securing ninth place in retail activity, seventh in centralized service value received, and fourth in decentralized finance (DeFi) value received.
In August, the local advocacy group Bitcoin Indonesia disclosed that the Indonesian government has been considering Bitcoin (BTC) as a reserve asset and has met with officials to discuss how this strategy could foster economic growth in the country.
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