Bank Indonesia to Launch Own Digital Currency Rupiah
CoinEdition
Published May 26, 2021 06:56AM ET
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...
This article was first published on coinquora.com
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.