Bank Indonesia (BI) plans to develop digital rupiah currency or Central Bank Digital Currency (CBDC). This development is beneficial for the financial technology sector and crypto assets that are being developed by various market actors. Deputy Chairperson of the Indonesian Fintech Association, (Aftech) Harianto Gunawan commented that a CBDC will have a positive impact on the fintech industry, especially payment fintechs such as OVO, GoPay, DANA, and LinkAja. CBDC has the potential to accelerate transactions with increased efficiency and reduce costs. The presence of CBDC also has potential spillover effects to boost the crypto asset market in Indonesia. The Commodity Futures Trading Supervisory Agency (CoFTRA) noted that the number of investors in Indonesian crypto assets has reached 7.5 million people, almost double the investors compared to 2020.
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