Bank Indonesia Governor Perry Warjiyo said the regulator is considering plans to launch a digital rupiah, which would then be a legal tender in Indonesia along with the traditional Indonesian currency.
Vargiyo also said that the regulator is currently examining the potential and positive impact that the Indonesian SBDC could have on the local payment system as well as on the country’s monetary policy. In addition, the readiness of the financial infrastructure to deal with digital assets is being assessed.
The governor of Bank Indonesia also said that the regulator is considering various technological options for the launch of CBDC. Although no exact launch date for the digital rupiah has been announced, the Bank Indonesia’s official website has a statement saying that the regulator intends to address the launch of such CBDC in the near future and when all necessary arrangements for the issuance of the digital rupiah have been implemented.
The statement stressed that “the Bank Indonesia continues to focus on the digital transformation of its operations. In addition, it is noted that during the COVID-19 pandemic, Indonesian authorities drew attention to the significant growth of financial transactions that are conducted online, using digital technology.
Recall that the Bank for International Settlements previously praised the potential of various CBDCs in the world to transform the sphere of global finance.