The central bank of Indonesia, Bank Indonesia, has joined the CBDC train as it moves towards issuing a digital currency to facilitate payments. The bank’s governor, Perry Warjiyo, said that Bank Indonesia is currently exploring what platform to use for the digital rupiah.
Bank Indonesia is making digital payments as a priority after the country saw a surge in online transactions during the pandemic. It appears that citizens resorted to online transactions to reduce the use of fiat currency, hence curbing the spread of the coronavirus.
The central bank’s data showed that in April, transaction frequency across all digital banking platforms increased 60.3% to over 570 million times. The data further noted that value climbed 46% to 3,114.1 trillion rupiahs ($217.4 billion).
Speaking during a streamed news conference, Warjiyo said:
Image Credits: Pixabay
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