Today Bank Indonesia published its Indonesian Payment System Blueprint (BSPI) 2030. One of the five major initiatives is its central bank digital currency (CBDC) work, the digital rupiah.
It previously announced three stages of its proof of concept CBDC work. The first is the basic issuance and redemption of a wholesale CBDC (wCBDC) using DLT, which was completed during the first half of 2024. Secondly, it plans to explore the integration of a wCBDC with a digital securities ledger. Finally, it will use the wCBDC as a foundation for a retail CBDC.
While today’s paper provides an update, and reiterates the three phases first outlined in 2022, there is a subtle change in emphasis towards the wCBDC. For example, now the third phase following the wCBDC digital securities work will focus on wCBDC for cross border payments.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
