Bank Indonesia to Issue Bond-Backed Stablecoin on CBDC
Bank Indonesia plans to launch a bond-backed stablecoin on its digital rupiah CBDC. The central bank will tokenize government bonds (SBN) into programmable digital securities. Announced by Governor Perry Warjiyo at the 2025 Digital Finance Festival, this move marks the first formal blockchain integration into Indonesia’s monetary framework. Although not legal tender, the bond-backed stablecoin aims to boost liquidity, transparency and the utility of CBDC. The Financial Services Authority (OJK) has imposed AML compliance and reporting requirements on stablecoin issuers, highlighting growing use in payments and remittances. Indonesia ranks seventh in global crypto adoption, driven by strong retail and DeFi activity. Authorities are also exploring Bitcoin (BTC) as a reserve asset, signalling a broader shift towards digital finance.
Neutral
The introduction of a bond-backed stablecoin on a central bank CBDC enhances liquidity and regulatory oversight but has limited direct impact on tradable cryptocurrencies like Bitcoin or Ethereum. In the short term, it may boost interest in blockchain-based securities and stablecoin usage. Over the long term, greater CBDC adoption could support broader digital finance, but price effects on existing crypto assets remain marginal.