OJK Prepares to Integrate Crypto into Indonesia’s Financial System
Indonesia’s Financial Services Authority (OJK) is moving to bring crypto assets deeper into the country’s financial system. The policy direction includes strengthening the status of crypto service providers, introducing a unified investor identification system, developing stablecoin regulations, and advancing the tokenization of real-world assets (RWA).
Adi Budiarso, OJK’s Chief Executive for Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets Supervision, outlined the direction during his keynote at Coinfest Asia 2026, held in Bali on Aug. 20–21, 2026.
“Today, at this Coinfest Asia Forum, I wish to declare that Indonesia’s on-chain economy is coming,” Adi said.
The development comes as Indonesia’s domestic crypto market continues to expand. OJK data showed that the number of crypto asset consumers reached 22.69 million in June 2026, up from 22.40 million a month earlier.
Crypto transaction value also reached IDR 28.58 trillion in June 2026, an increase of 24.2% from IDR 23.01 trillion in May.
Meanwhile, Indonesia’s crypto market infrastructure currently consists of 26 licensed digital financial asset traders, two exchanges, two clearing institutions, and two custodians.
Crypto Providers to Move Closer to the Financial Services Industry
One of the key changes being prepared by OJK is strengthening the status of crypto asset service providers as part of the financial services industry.
The move follows amendments to Indonesia’s Financial Sector Development and Strengthening Law, known as the P2SK Law.
According to Adi, the change would go beyond an administrative reclassification and bring governance standards for the crypto industry closer to those applied to conventional financial institutions such as banks and capital market firms.
“This is not merely a label; it does represent an elevation for the industry class,” he said.
Under this direction, Indonesia’s crypto industry could enter a new phase. Businesses would no longer be viewed solely as digital asset trading platforms, but increasingly as part of a financial ecosystem subject to stronger standards of governance, transparency, and supervision.
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Crypto Investors to Get SID Similar to Stock Market Investors
Crypto’s integration into the financial system can also be seen in OJK’s plan to introduce Single Investor Identification (SID) for crypto asset investors.
SID is already used in Indonesia’s capital markets to assign each investor a unique identification number. OJK plans to introduce a similar mechanism across the digital asset ecosystem.
According to Adi, adopting SID would bring crypto market infrastructure more closely in line with the capital markets.
“This will align the crypto ecosystem with the capital market, enhancing credibility, promoting transparency and efficiency at the same time,” he said.
The introduction of a unified investor identity could strengthen the recording of investor activity while improving transparency across Indonesia’s domestic crypto trading ecosystem.
OJK Prepares Stablecoin Regulations
Stablecoins are another key part of OJK’s regulatory agenda.
OJK plans to position stablecoins as transactional instruments, but not as payment tools. Their regulation will continue to be coordinated with Bank Indonesia in accordance with the respective mandates of the two authorities.
“Stablecoins are positioned as transactional instruments, not payment tools,” Adi said.
The distinction is significant because payment systems and legal payment instruments in Indonesia fall under the authority of Bank Indonesia.
At the same time, stablecoin adoption continues to expand globally. Based on data presented by OJK, global stablecoin supply increased from around US$200 billion in early 2025 to approximately US$317 billion–US$320 billion in early 2026.
Several stablecoin business models in Indonesia have also passed OJK’s regulatory sandbox and are preparing to move into the next stage of development.
Tokenization of Gold, Government Securities and Property Moves Forward
In addition to stablecoins, OJK is also finalizing a regulatory framework for real-world asset tokenization.
Tokenization allows real-world assets or their underlying economic rights to be digitally represented using blockchain technology.
In Indonesia, several tokenization models developed through OJK’s regulatory sandbox include gold, government securities (SBN), and economic rights related to property.
OJK is now preparing a broader regulatory framework to allow these business models to scale while maintaining security and user protection.
“We are drafting a comprehensive OJK regulation to ensure scalability and security,” Adi said.
According to him, tokenization could also help expand access to financing for small and medium-sized enterprises while opening new investment opportunities for the public.
Globally, the RWA market has also expanded rapidly. Data presented by OJK showed that the market grew by around 256.7% between the first quarter of 2025 and the first quarter of 2026, with its value approaching US$33.5 billion by mid-2026.
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From Crypto Trading to an On-Chain Economy
The four initiatives signal a broader shift in the development of Indonesia’s digital asset industry.
The regulator’s focus is no longer limited to crypto trading. It is increasingly expanding into investor identification, governance standards for service providers, stablecoins, and real-world asset tokenization.
OJK is also positioning digital asset development as part of Indonesia’s broader national economic agenda.
Adi said Indonesia wants to play a larger role in the development of Asia’s digital asset industry.
“We are fully committed to establishing Indonesia as Asia’s crypto hub, a center for innovation, investment and crypto transactions in this region,” he said.
The development is also linked to Indonesia’s target of achieving 8% economic growth by 2029 under the 2025–2029 National Medium-Term Development Plan (RPJMN).
According to OJK, digital transformation, deeper financial markets, and innovations such as tokenization could help broaden access to financing and investment.
“Our future will be on-chain soon, and this is the thing that we build together,” Adi concluded.
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Dilla Fauziyah
SEO and Content Performance Specialist
