Indonesia plans to launch digital rupiah currency
Bank Indonesia (BI) is planning to launch a digital rupiah currency amid the accelerated digitalisation in the world.
The central bank of Indonesia has conducted many studies to evaluate the potential and benefits of Rupiah CBDC. (Photo: thejakartapost.com)Jakarta (VNA) - Bank Indonesia (BI) is planning to launch a digital rupiah currency amid the accelerated digitalisation in the world.
BI announced the information on its Instagram on May 30. Accordingly, BI will issue the Rupiah Central Bank Digital Currency (CBDC) to meet the country’s economic objectives.
The central bank has carried out numerous studies to assess the potential and benefits of this new digital currency. The studies looked into the design and technology related to digital currencies and measures to minimise risks during the circulation of this currency.
The digital rupiah currency is the first of its kind in Indonesia. BI has to date recognised rupiah as the only currency used in card-based transactions and cash payments./.
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