Indonesia To Launch Digital Rupiah
The latest country to join on the central bank digital currency race is Indonesia.
A news report from Reuters states the central bank of Indonesia is exploring ways to launch a digital rupiah.
According to Governor Perry Warjiyo,the digital rupiah will modernise their financial systems, ward off the threat from cryptocurrencies and speed up domestic and international payments.
The digital rupiah will also be the legally accepted means of payment in the country and will also be regulated like cash and cards.
It is worth noting that Indonesia has banned cryptocurrency as a mode of payment since 2017 but online transactions has surged during the pandemic.
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