Indonesia Plans Wholesale Digital Currency to Improve Transfers

Indonesia’s central bank is on track to issue its own digital currency for banks to use, while considering ways to ensure it would be exchangeable across borders.

Bank Indonesia will release the conceptual design of digital rupiah by the end of this year, Governor Perry Warjiyo said in a briefing on Thursday. “The principle of digital rupiah will be the same as paper money which is to be the only legal currency for digital transactions in Indonesia,” he said.