August 21, 2025 | 07:06 pm
TEMPO.CO, Jakarta - The crypto asset exchange, PT Central Finansial X (CFX), held the CFX Crypto Conference 2025 in Bali on August 21, 2025. One of the highlighted issues was the development of crypto assets or stablecoin as a Rupiah-based payment tool.
One of the shareholders of PT Indokripto Koin Semesta (COIN), Andrew Hidayat, stated that such development could make Indonesia a regional crypto hub. Therefore, he mentioned that digital financial asset traders are seeking regulatory support.
"We need to seek cooperation from the Financial Services Authority (OJK) and Bank Indonesia (BI), to accept these crypto and stablecoin as one of the payment tools in Indonesia," he said after the CFX Crypto Conference discussion in Nuanu City, Tabanan, Bali, on Thursday, August 21, 2025.
According to Andrew, this step would allow transactions to be conducted across countries without the need for conversion into foreign currencies. This move could establish Indonesia as a regional player in the crypto asset market.
Andrew stated that Indonesia is more advanced in crypto regulation. He compared it to the United States, which has just issued regulations, namely the Genius Act. Meanwhile, Indonesia has preceded it with crypto regulations through the Law on the Development and Strengthening of the Financial Sector (UU P2SK).
"Let's not just be a pioneer in regulations, but also in the regional crypto asset market and trade," he said.
Indodax CEO William Sutanto stated that the Rupiah-based stablecoin allows the local crypto asset industry to compete with international players. "So besides nationalism, we see our strength in Indonesia," he said.
Furthermore, William stated that a rupiah-based stablecoin could increase the exposure of Indonesia's currency to foreign communities. "It makes it easier for people to buy Rupiah," he said.
Rupiah-based stablecoin also opens opportunities to facilitate the purchase of domestic money market investment instruments. Especially for the purchase of government and private bonds, thus boosting domestic investment.
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