Latest Project Garuda News

Business 13 January 2024

Bank Indonesia advances wholesale CBDC trials following public consultation

Bank Indonesia's consultation report on its wholesale CBDC initiative, Project Garuda, shows that most of the 42 participating entities favor using a permissioned ledger over a centralized system.

Central Bank Digital Currency on flag of Indonesia

Business 13 February 2023

Indonesia’s central bank unveils wholesale CBDC consultation process

Project Garuda's second phase will explore CBDC usage in the tokenization and settlement of securities transactions.

Indonesia flag on a bitcoin cryptocurrency coin. 3D Rendering — Stock Editorial Photography

Business 7 January 2023

Indonesia to launch national digital currency exchange amid incoming regulatory changes

The biggest change is removing control of virtual currencies from the Commodity Futures Trading Regulatory Agency of Indonesia and vesting it in the hands of the Financial Service Authority.