Quick Breakdown
- Bank Indonesia to launch a national stablecoin backed by government bonds (SBN) as part of its digital rupiah framework.
- OJK enforces compliance and oversight on stablecoin activities, ensuring AML and reporting standards.
- Indonesia ranks seventh globally in crypto adoption, reflecting a rapidly expanding digital asset ecosystem.
Indonesia moves toward blockchain-powered monetary system
Bank Indonesia (BI) is advancing its digital finance vision with plans to issue a “national stablecoin version” backed by government bonds (Surat Berharga Negara — SBN). Governor Perry Warjiyo announced the initiative during the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta, according to a report by CNBC Indonesia.
Warjiyo explained that the central bank intends to roll out digital central bank securities, tokenized versions of SBN that will operate atop the digital rupiah, the country’s upcoming central bank digital currency (CBDC).
“We will issue Bank Indonesia securities in digital form, the digital rupiah with underlying SBN, Indonesia’s national version of a stablecoin,”
Warjiyo said during the event.
Stablecoin initiative strengthens BI’s digital strategy
The proposed digital securities are a core part of BI’s broader strategy to digitize the nation’s financial ecosystem. By leveraging blockchain technology, the central bank aims to modernize monetary operations and enhance efficiency in financial transactions across sectors.
Although stablecoins are not yet recognized as legal tender in Indonesia, regulatory oversight is tightening. The Financial Services Authority (OJK) has begun tracking their use, citing the growing relevance of stablecoins in remittances and cross-border payments.
Dino Milano Siregar, head of the OJK’s crypto and digital asset division, noted that the agency has implemented Anti-Money Laundering (AML) and reporting obligations for stablecoin traders. He added that many stablecoins, especially those backed by credible assets, are already being used locally as hedging instruments.
Indonesia’s crypto ecosystem gains global recognition
Indonesia continues to gain momentum in global crypto adoption, ranking seventh in the 2025 Global Crypto Adoption Index by Chainalysis. The country placed ninth in retail activity, seventh in centralized exchange value received, and fourth in decentralized finance (DeFi) value received.
In a related development, Bitcoin Indonesia disclosed in August that the government has been exploring the idea of using Bitcoin as a reserve asset to stimulate economic growth, following discussions with top officials.
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