Bank Indonesia to Introduce National Stablecoin Backed by Government Bonds

Bank Indonesia is gearing up to unveil its own iteration of a “national stablecoin” that will be secured by government bonds. The digital assets will be underpinned by the digital rupiah. As per a report by CNBC Indonesia, Bank Indonesia’s Governor Perry Warjiyo revealed that the central bank is in the process of creating digital central bank securities, which are digitized forms of Indonesia’s government bonds. This financial offering will be coupled with the bank’s digital rupiah, its central bank digital currency.