Digital Rupiah be in Wholesale and Retail Form

N/A • 6 December 2022 02:55

Indonesia's Central Bank plans to launch a digital currency or digital rupiah. The Central Bank has released the roadmap within a white paper on Wednesday the 30th of November 2022 that explains the publishing mechanism as well as the distribution plans.

Bank Indonesia's governor Perry Warjito The digital rupiah will be the only official digital currency in Indonesia. the project is dubbed 'garuda' and will publish the digital currency in two ways wholesale and retail. 

Wholesale digital rupiah can only be used by parties appointed by the central bank. While the retail digital currency can be used by the general public just like any other paper money or coins just in digital form.

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(Rezahra Nurjannah)