Bank Indonesia (BI), Indonesia’s central bank, is moving forward with plans to issue what it describes as a “national version of a stablecoin,” a digital currency backed by government bonds (SBN).
The initiative was presented by Central Bank Governor Perry Warjiyo during the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta on Thursday, according in a CNBC Indonesia report.
During the summit, Warjiyo said that Bank Indonesia plans to issue digital central bank securities, which are tokenized versions of SBN. Digital securities will be backed by the digital rupiah, the country Central Bank Digital Currency (CBDC).
In a nutshell, Bank Indonesia’s planned digital securities are derived from Digital Rupiah and backed by Government Bonds (SBN), forming the so-called Central Bank’s national version of an Indonesian StableCoin.
“We will issue Bank Indonesia Securities in Digital Form – the Digital Rupiah with an underlying SBN, national version of a StableCoin,” Warjiyo said.
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Indonesia to integrate blockchain into the financial system
Digital securities are designed to complement BI’s broader digital finance strategy. If realized, it would mark a major step in integrating blockchain into Indonesia’s financial framework, per the report.
While StableCoins are not yet legal tender in Indonesia, the country’s financial services authority, the OJK, has begun monitoring their use due to their growing importance in payments and remittances.
Dino Milano Siregar, head of OJK’s crypto and digital asset division, said the regulator enforces Anti-Money Laundering (AML) Compliance and periodic reporting requirements for StableCoin traders.
Siregar noted that even without formal recognition as payment instruments, StableCoins are already being used as hedging tools, especially those backed by credible underlying assets. “These assets can be tradable and less volatile than other cryptocurrencies,” he said.
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Indonesia Ranks seventh in global crypto adoption
Indonesia secured the seventh position in Chainalysis’s 2025 Global Crypto Adoption Index. The country ranks ninth in retail activity, seventh in centralized service value received and fourth in decentralized finance value received (DEFI).
In August, local advocacy group Bitcoin Indonesia revealed that Indonesian The government is exploring Bitcoin (BTC) As a reserve asset, adding that they met with officials to discuss how the strategy can drive economic growth in the country.
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