Status
PILOT
Indonesia
Indonesia Digital Rupiah (Project Garuda)
According to Bank Indonesia disclosures and linked sources, this profile records status, architecture, and capability fields for Indonesia Digital Rupiah (Project Garuda).
Program Snapshot
Current status fields and timeline data from the profile record.
Type
WHOLESALE
Program classification
Wallets
Not listed
Annual Volume
Not listed
Status and Timeline
| Field | Value |
|---|---|
| Announced | 2022-01-01 |
| Pilot start | Not listed |
| Launch | Not listed |
| Last verified | 2026-02-18 |
Availability
- Retail
- research
- Wholesale
- pilot
Central Bank
Bank Indonesia
Technical Profile
| Attribute | Value |
|---|---|
| Type | Wholesale |
| Architecture | two-tier |
| Access model | account based |
| Technology base | dlt |
| Legal tender | pilot only |
Capabilities
offline payments: No
programmability: Yes
cross border: No
interest bearing: No
transaction limits: Yes
Cross-Border Projects
No cross-border project entries are listed for this profile.
Recent Updates
According to Bank Indonesia (BI), the Digital Rupiah is being developed under Project Garuda as part of the Indonesian Payment System Blueprint 2030. The project follows a structured three-phase approach: Immediate State (completed), Intermediate State (in progress), and End State (long-term vision). The Immediate State focused on wholesale CBDC design, with a proof of concept conducted from July 2023 to August 2024 using permissioned distributed ledger technology. Bank Indonesia published a white paper on the Digital Rupiah in 2024, outlining both wholesale (w-CBDC) and retail (r-CBDC) approaches. The wholesale CBDC is prioritized for interbank transactions and large-value transfers between financial institutions. Governor Perry Warjiyo emphasized that the Digital Rupiah aims to safeguard the Rupiah's sovereignty against private cryptocurrencies and stablecoins. BI has set long-term liquidity targets including Rp81 trillion in daily money-market turnover by 2030.
Updated: Feb 18, 2026
Frequently Asked Questions
Does Indonesia have a CBDC?
According to listed sources, Indonesia is developing Indonesia Digital Rupiah (Project Garuda), currently in pilot phase.
What is the current status of Indonesia's CBDC?
Indonesia Digital Rupiah (Project Garuda) is in pilot phase as of 2026-02-18.
When did Indonesia start CBDC pilot activity?
No pilot start date is listed for this program.
How many users or wallets are reported for Indonesia's CBDC?
Wallet metrics are not listed in the current dataset.
Is Indonesia's CBDC retail, wholesale, or hybrid?
Indonesia Digital Rupiah (Project Garuda) is categorized as wholesale.
Which institution manages Indonesia Digital Rupiah (Project Garuda)?
Indonesia Digital Rupiah (Project Garuda) is managed by Bank Indonesia.
Related CBDCs
Sources
Sources
Last verified: 2026-02-18
Project Garuda Proof of Concept Report - Bank Indonesia
central bank
Central Bank Digital Currencies: What Are They Good For? - Bank Indonesia
central bank
Bank Indonesia Publishes White Paper with Focus on Wholesale CBDC - CoinGeek
news
Published White Paper on CBDC for Indonesia - Digital Policy Alert
news
Indonesia's Central Bank Advances Digital Rupiah Trials - Indonesia Crypto Network
news
Indonesia Digital Rupiah Tracker
tracker