The Digital Rupiah “Exploring the CBDC Framework and Its Prospect in Indonesia”

June 11, 2024

Through Project Garuda, Bank Indonesia (BI) plans to one day begin issuing the Digital Rupiah, which would be a Central Bank Digital Currency (CBDC) for Indonesia. However, awareness and understanding regarding the Digital Rupiah among the public is still somewhat lacking. Tenggara Strategics publishes this Fintech Outlook to provide a simplified and easy-to-understand breakdown of the technical aspects of the Digital Rupiah, allowing stakeholders and impacted parties to effectively participate in the discussion.

Additionally, this publication also includes input based on feedback from stakeholders in the Indonesian fintech industry towards BI's strategy to implement the Digital Rupiah. The feedback covers identified potential challenges and points of interest egarding the Digital Rupiah's implementation, as well as benchmarking against the CBDC implementation in other countries.