ASIATODAY.ID, JAKARTA — In the world’s third-largest crypto market by user adoption, a fundamental shift is underway—not through speculative hype or token launches, but through the active participation of Indonesia’s most strategic institutions.
Representing a combined market capitalization of over US$35 billion, Bank Rakyat Indonesia (BRI), Pegadaian, POS Digi, and MDI Ventures have joined Tokenize Indonesia to advance their tokenization and real-world asset (RWA) use cases.
Launched by Saison Capital, Coinvestasi, and BRI Ventures (BVI), Tokenize Indonesia is structured as an experimental platform for institutions to explore blockchain’s real-world applications. Rather than chasing buzz, the program focuses on bridging legacy institutions with blockchain infrastructure providers to co-develop deployment-ready proof-of-concept (PoC) solutions.
The initiative began in July 2025 and culminated in a showcase at Coinfest Asia—the world’s largest crypto festival—on August 21–22, 2025.
“Our goal is to foster meaningful collaboration between well-established financial institutions and innovative, fast-moving technology partners. By bridging these two worlds, we aim to catalyze sustainable growth, drive financial inclusion, and accelerate the adoption of digital assets across Indonesia,” said Markus Liman Rahardja, Chief Investment Officer at BRI Ventures.
Institutions Driving National Systems
The participation of these major players underscores the seriousness of Indonesia’s blockchain shift:
Bank Rakyat Indonesia (BRI) manages around US$130 billion in assets, serving 20+ million customers and holding more than 65% market share in ultra-micro lending. With 15,400+ outlets and nearly 993,000 agents, BRI reaches even the most remote areas of the archipelago.
Pegadaian serves 24+ million active users and manages approximately US$6.5 billion in assets across 4,092 branches and a nationwide agent network.
POS Digi, the digital arm of Pos Indonesia, operates 4,000+ logistics and payment points across more than 500 cities.
MDI Ventures, the corporate venture capital arm of Telkom Indonesia, manages US$656 million AUM with US$1.1 billion committed capital, backing 99 portfolio companies, including leading fintech and infrastructure startups.
Strategic Outlook: Unlocking a US$88B Future
Globally, RWA tokenization is projected to be one of blockchain’s most lucrative sectors, with Boston Consulting Group estimating a US$16 trillion market by 2030.
For Indonesia, local analysts forecast US$88 billion in RWA tokenization value by 2030—driven by:
A population of 270+ million
A financial system where over 50% remain underbanked or unbanked
Rapid growth of digital finance, including e-wallets and online lending
Potential applications under Tokenize Indonesia include tokenized microloans, digitized gold-backed contracts, traceable supply chain finance, and cross-border remittances.
Blockchain Infrastructure Partners
To execute this large-scale experimentation, Tokenize Indonesia is supported by trusted blockchain infrastructure providers:
IOTA – DAG-based, feeless network used globally in logistics and IoT
Stellar – widely adopted for cross-border finance, humanitarian aid
Ripple – payment protocol used by 100+ financial institutions worldwide
Fireblocks – securing US$4+ trillion in institutional digital assets for banks, fintechs, and asset managers
Sandbox-Ready Blueprint Ahead of Regulation
The initiative aligns with Indonesia’s regulatory shift: in January 2025, oversight of digital assets moved from Bappebti (commodities regulator) to OJK (Financial Services Authority). This transition paves the way for sandbox-style experimentation under regulatory supervision.
By proactively adapting to this framework, Tokenize Indonesia positions its participants for a first-mover advantage in the evolving digital asset ecosystem.
Between 2021–2024, Indonesia’s retail crypto adoption skyrocketed—users doubled from 9.9 million to 20.9 million, while monthly transaction volumes grew from US$739 million to US$2.25 billion. Yet, while retail growth is fast, it is also volatile.
The real opportunity lies in institutional adoption. Once blockchain systems are embedded in banking, logistics, and telecommunications, they not only improve efficiency but also cement legitimacy—anchoring Indonesia’s long-term digital economy growth.
About the Organizers
BRI Ventures
Corporate venture capital arm of Bank Rakyat Indonesia (BRI). Focused on innovation, financial inclusion, and supporting startups across fintech, MSME empowerment, and the digital economy.
Coinvestasi
Indonesia’s leading Web3 and crypto media platform, reaching 4M+ users monthly. Part of Indonesia Crypto Network (ICN), organizer of Coinfest Asia, and a driver of Web3 adoption nationwide.
Saison Capital
An early-stage venture capital fund (Pre-seed to Series B) focused on Web3, fintech, and commerce in emerging markets. Backed by Credit Saison, the firm operates across APAC, India, Vietnam, Thailand, Philippines, Cambodia, Japan, Brazil, and Mexico.
(Silvia Andriani)
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