Bank Indonesia to Launch Own Digital Currency Rupiah By CoinQuora

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Bank Indonesia to Launch Own Digital Currency Rupiah

  • Indonesia had a large increase in digital transactions during Covid-19 crisis.
  • Bank Indonesia is launching a central bank digital currency.
  • The Bank Indonesia data shows it made more than 570 million digital activities in April.

Indonesia has seen a large increase in digital banking transactions during the Covid-19 crisis. Now, the country will profit from its citizens’ growing interest in mobile banking systems by launching its digital currency.

In line with this, Governor Perry Warjiyo announced the move in a streamed news conference Tuesday. He explains that creating digital currency was one of the Indonesian Government’s top priorities. The digital rupiah will benefit from the growing interest in digital banking platforms. Besides, it has seen a 60% increase in transaction frequency since the start of the pandemic.

Central bank digital currencies (CBDCs), have become a hotter topic…

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