Indonesia
Blockchain Media
From Government Bonds to a Halal Fatwa, the Pieces of a National Stablecoin Start Falling Into Place
- Bank Indonesia has obtained a halal fatwa covering the national stablecoin concept, addressing Sharia-compliance concerns for Indonesia's Muslim-majority market.
- BI is continuing cross-border pilot testing of the Digital Rupiah (Rupiah Digital) as part of the broader central bank digital currency and stablecoin groundwork.
- Indonesian government bonds (SBN) are emerging as a potential backing asset, suggesting the national stablecoin could be structured similarly to reserve-backed stablecoins tied to sovereign debt.