Bank Indonesia (BI), the central bank of Indonesia, is progressing with plans to introduce its version of a “national stablecoin,” a digital currency that will be supported by government bonds (SBN).
This initiative was announced by Governor Perry Warjiyo at the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 held in Jakarta on Thursday, according to a report from CNBC Indonesia.
During the summit, Warjiyo mentioned that Bank Indonesia intends to issue digital central bank securities, which will be tokenized versions of SBN. These digital securities will be underpinned by the digital rupiah, Indonesia’s central bank digital currency (CBDC).
In summary, Bank Indonesia’s forthcoming digital securities will be based on the digital rupiah and backed by government bonds (SBN), forming what the central bank refers to as Indonesia’s national version of a stablecoin.
“We will launch Bank Indonesia securities in digital format — the digital rupiah backed by SBN, Indonesia’s national stablecoin,” Warjiyo stated.
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Indonesia to incorporate blockchain into its monetary system
The digital securities aim to enhance BI’s comprehensive digital finance strategy. If implemented, this would represent a significant advancement in introducing blockchain into Indonesia’s monetary system, as noted in the report.
Although stablecoins are not currently recognized as legal tender in Indonesia, the country’s Financial Services Authority, the OJK, has begun to monitor their usage due to their rising significance in transactions and remittances.
Dino Milano Siregar, head of the OJK’s crypto and digital asset division, stated that the regulator mandates compliance with Anti-Money Laundering (AML) regulations and periodic reporting from stablecoin traders.
Siregar highlighted that even without formal acceptance as payment options, stablecoins are being utilized as hedging instruments, especially those backed by reliable underlying assets. “These assets are tradable and exhibit much less volatility compared to other cryptocurrencies,” he explained.
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Indonesia ranks seventh globally in crypto adoption
Indonesia achieved the seventh spot in Chainalysis’s 2025 Global Crypto Adoption Index. It ranked ninth 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 investigating the potential of Bitcoin (BTC) as a reserve asset, noting discussions with officials on how this strategy could stimulate economic growth in the country.
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