Indonesia sees the CBDC as one of its political priorities

Indonesia’s central bank plans to launch its own CBDC in response to the boom in digital transactions.

Indonesia sees the CBDC as one of its political priorities

Based on today's statements from Perry Warjiyo, the current Governor of Bank Indonesia, it is clear that Indonesia will be another country that plans to launch its own CBDC.

Indonesia should have decided to make significant progress in digitizing payments, mainly because it saw an extraordinary increase in online transactions during the pandemic.

According to available data reproduced by Reuters, the frequency of digital banking transactions increased by 60.3% on an annual basis in April to more than 570 million times.

BI plans in the future to issue a central bank digital currency, digital a legal digital payment instrument in Indonesia, Perry Warjiyo

The central bank of the Republic of Indonesia is currently exploring all options, and especially how the digital rupiah can help the country's monetary policy or payment system. As for regulations, the governor said that the bank will regulate the digital rupiah as well as it will regulate the classic banknotes and thus the official and first currency.

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