Indonesia Aims for 2030 Launch of Digital Rupiah to Reshape Financial Systems

Indonesia is taking a major step towards digitalizing its currency, aiming for the launch of Digital Rupiah by 2030. This initiative, spearheaded by Bank Indonesia under Governor Perry Warjiyo’s leadership, focuses on wholesale CBDC usage, and will significantly impact financial sectors. The project, known as Proyek Garuda, will introduce a phased rollout of Digital Rupiah, expected to complete by 2030. This transition is anticipated to reshape Indonesia’s payment systems and potentially influence national and regional financial markets.