Bank Indonesia (BI) is set to issue a new financial instrument known as the Digital Rupiah.
Governor Perry Warjiyo likened the Digital Rupiah to a digital version of the Bank Indonesia Rupiah Securities (SRBI).
The plan was revealed during his remarks at the Indonesia Digital Economy and Finance Festival & Indonesia Fintech Summit and Expo (FEKDI & IFSE) 2025 in Jakarta on 30 October.
“Our Digital Rupiah will be developed in a way similar to how the Bank Indonesia Rupiah Securities (SRBI) exist in digital form, the Bank Indonesia Digital Rupiah, which will have government securities (SBN) as its underlying assets. This is Indonesia’s official national version of a stablecoin,”
Perry said.
However, he did not provide further details regarding the initiative, noting only that BI would focus on expanding digital acceptance services, strengthening the ecosystem and industry structure, and maintaining infrastructure stability to support the development of the Digital Rupiah.
According to Ekonomi Bisnis, the Digital Rupiah is described in the Indonesian Payment System Blueprint 2030 as a security that is issued and/or transferred within a distributed ledger technology (DLT) ecosystem.
Development will take place gradually through to 2030.
The first phase (2025-2026) will focus on experimenting with issuance, transfer, withdrawal, and digital securities within a securities ledger.
The second phase (2027-2028) will expand testing to include monetary operations and financial market transactions.
In the final phase (2029-2030), experimentation will emphasise programmability, composability, and tokenisation capabilities to deepen financial markets.
Featured image credit: Edited by Fintech News Indonesia, based on image by Cindhyad via Freepik
