Bank Indonesia (BI), the country’s central bank, is advancing plans to issue what it terms its “national stablecoin version,” a digital currency backed by government bonds (SBN). This initiative was announced by BI Governor Perry Warjiyo during the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 held in Jakarta on Thursday, according to CNBC Indonesia.
During the summit, Warjiyo revealed that Bank Indonesia intends to introduce digital central bank securities, which are tokenized versions of SBN. These digital securities will be developed atop the digital rupiah, Indonesia’s 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,” he explained.
### Indonesia to Integrate Blockchain into Its Monetary System
The introduction of these digital securities is part of BI’s broader digital finance strategy and represents a significant step toward integrating blockchain technology within Indonesia’s monetary framework.
Currently, stablecoins are not recognized as legal tender in Indonesia. However, the Financial Services Authority (OJK) has begun monitoring their usage due to their growing significance in payments and remittances.
Dino Milano Siregar, head of the OJK’s crypto and digital asset division, stated that the regulator enforces Anti-Money Laundering (AML) compliance and requires periodic reporting from stablecoin traders.
He noted, “Even without formal recognition as payment instruments, stablecoins are already being used as hedging tools, particularly those backed by credible underlying assets.”
“These assets are tradable and far less volatile than other cryptocurrencies,” Siregar added.
### Indonesia’s Growing Role in the Global Crypto Market
Indonesia has made notable strides in global cryptocurrency adoption. It ranked seventh in Chainalysis’s 2025 Global Crypto Adoption Index. Specifically, the country secured ninth place in retail crypto activity, seventh in centralized service value received, and fourth in decentralized finance (DeFi) value received.
Moreover, in August, the local advocacy group Bitcoin Indonesia disclosed that the government has been exploring Bitcoin (BTC) as a potential reserve asset. The group mentioned that they have held discussions with officials to explore how this strategy might stimulate economic growth.
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This move by Bank Indonesia signals the country’s commitment to embracing digital finance innovations while maintaining regulatory oversight, positioning Indonesia as a key player in the evolving landscape of digital currencies and blockchain technology.
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