BI to Issue Digital Currency

By Editorial Team 26/02/2021
Bank Indonesia
Summary

Bank Indonesia (BI) is formulating the creation of a digital currency called the Central Bank Digital Currency. BI Governor, Perry Warjiyo, revealed that it was BI’s response to the increasingly popular and widely used cryptocurrencies such as Bitcoin. According to Perry, the Central Bank Digital Currency will be circulated to banks and fintech companies, either through the wholesale or retail scheme.

"We are also working with other central banks to study one another," he revealed on Thursday (2/25). Perry emphasized that Bitcoin should not be a means of payment in Indonesia, including other currencies other than Rupiah. “In Indonesia, there is only one currency: rupiah. All payment instruments, either coins, banknotes, or digital money, they all must use rupiah, and the authority lies with BI,” he continued.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.