Indonesia’s central bank (BI) governor Perry Warjiu said on Monday that its planned digital rupiah currency could be used to buy products in the Metaverse in the future.
BI launched the design for its digital rupee last week, following a number of central banks around the world that are developing so-called central bank digital currencies (CBDCs).
Perry, speaking at an event on the digital rupee, added that the currency will use a technology platform that will be compatible with other central banks’ digital currencies.
So in terms of infrastructure, it can be integrated, interconnected, and actionable [with other CBDCs]”They said.
Perry said there would be an agreement between central banks on the exchange rate used for digital currencies and its operational oversight, including cyber risk and capital flows.
Southeast Asia’s largest economy currently bans the use of cryptocurrencies as a means of payment, but allows trading of digital assets in the commodity futures market for investment purposes.
BI will introduce the digital rupee in phases, starting with a wholesale CBDC to the development of a digital rupee business model for monetary operations and money market, and finally a retail CBDC for everyday use.