Bank Indonesia (BI) is set to introduce what it refers to as the “national stablecoin version,” a digital currency supported by government bonds (SBN).
This initiative was revealed by the central bank’s Governor, Perry Warjiyo, during the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta on Thursday, as reported by CNBC Indonesia.
During his presentation at the summit, Warjiyo explained that BI plans to create digital securities that are tokenized versions of SBN. These digital securities will be backed by the digital rupiah, the nation’s central bank digital currency (CBDC).
In essence, the upcoming digital securities from Bank Indonesia will be derived from the digital rupiah and secured by government bonds, resulting in what the central bank dubs Indonesia’s national stablecoin version.
“We will issue Bank Indonesia securities in digital form — the digital rupiah with underlying SBN, Indonesia’s national version of a stablecoin,” said Warjiyo.
The digital securities aim to enhance BI’s broader digital finance strategy and represent a significant move towards incorporating blockchain into Indonesia’s monetary system, according to reports.
Although stablecoins are not recognized as legal tender in Indonesia yet, the Financial Services Authority (OJK) has begun to oversee their use due to their rising role in payments and remittances. Dino Milano Siregar, the head of OJK’s crypto and digital asset division, stated that the regulator ensures compliance with Anti-Money Laundering (AML) requirements and mandates periodic reporting for stablecoin traders.
Siregar highlighted that even without formal status as payment instruments, stablecoins are already deployed as hedging tools, especially those underpinned by trustworthy underlying assets. “These assets are tradable and far less volatile than other cryptocurrencies,” he noted.
Indonesia ranks seventh in Chainalysis’s 2025 Global Crypto Adoption Index and is actively exploring Bitcoin as a reserve asset in discussions about its potential to bolster economic growth.
