Bank Indonesia Plans Launch of Stablecoin Backed by Government Bonds

3 mins mins

Key Points:

Bank Indonesia plans to launch a stablecoin backed by government bonds, led by Governor Perry Warjiyo.
National stablecoin aims to modernize financial systems with government backing.
Potential impact on existing crypto markets and local stablecoin adoption.

Bank Indonesia Governor Perry Warjiyo announced plans for a national stablecoin backed by government bonds to advance financial innovation, reports Solid Intel on October 29.

This move aligns with global trends towards central bank digital currencies, likely impacting digital payments and stablecoin markets by introducing a regulated alternative to existing options.

Bank Indonesia’s Stablecoin Initiative Sparks Change in Financial Systems

Bank Indonesia is set to launch a national stablecoin, aiming to utilize government bonds as backing for enhanced financial stability and innovation. Perry Warjiyo, a noted leader in digital finance, spearheads the initiative, positioning it as a key aspect of enhancing cross-border payments and financial modernization. Previous efforts under Warjiyo’s leadership have shown a commitment to advancing digital payment systems.

The introduction of this Indonesian national stablecoin aims to transform the financial sector by reducing dependence on non-sovereign stablecoins, potentially altering trading dynamics in local and global markets. Immediate disruptions are not seen, but the initiative may challenge existing IDR-backed tokens and influence demand for other major cryptocurrencies, such as ETH and BTC, through changes in trading pairs and fiat transactions.

The continuous development and innovation of QRIS features aim to expand its acceptance and support digital economic and financial inclusiveness, stated Perry Warjiyo, Governor, Bank Indonesia.

Potential Market Impact of Indonesia’s Government-Backed Stablecoin

Did you know? Several countries, including Singapore and China, have pursued similar national stablecoin projects, often leading to shifts in regulatory frameworks and market preferences.

As of the latest data, Ethereum (ETH) is trading at $3,897.71, with a market cap of $470.45 billion, according to CoinMarketCap. ETH’s market dominance stands at 12.62%, and its 24-hour trading volume has reached $41.17 billion, marking a 7.74% daily change. Price adjustments over significant periods reveal a 2.52% drop over the past day and a 0.11% rise over the past week, though it has decreased 5.86% in the last month. ETH’s overall circulating supply remains at 120,698,039, with no cap on its maximum supply as of October 30, 2025.

ethereum-daily-chart-1831 — Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 10:01 UTC on October 30, 2025. *Source: CoinMarketCap*

Experts indicate that government-backed stablecoins can reshape financial landscapes by promoting regulated digital currencies while delineating from decentralized models. The Coincu research team suggests insights into possible transformations in IDR trading pairs and enforced compliance measures are anticipated as possible financial and regulatory outcomes. Enhanced adoption and regulatory interest in state-backed digital assets could increase, impacting private stablecoin and DeFi protocol dynamics.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.