In the second phase, the various functions and services of wholesale digital rupiah will be expanded to support transactions in the financial market. These services include delivery versus payment (DVP) for the interbank money market transactions and monetary operations, as well as central counterparties (CCP) fund settlement.
The final stage is an end-to-end integration of wholesale digital rupiah with the retail type. At this stage, BI will develop circulation and collection as well as peer-to-peer transfer mechanism which will also include trials of retail digital rupiah transfer for payments of goods and services and public funds.
Read: E-Commerce to drive Indonesia’s digital economy in 2022
The white paper also contains digital currency distribution plan to the general public through designated intermediaries known as wholesalers. They will later distribute digital currency to the public, either directly or through other intermediaries referred to as retailers.
Through this mechanism, the public will be able to obtain retail digital rupiah by exchanging banknotes or coins, or through checking or savings accounts at commercial banks. The public can also exchange e-money balances into digital currencies through wholesaler intermediaries appointed by BI. (un)