Swan.my.id - Jakarta, The Financial Services Authority (OJK) is assessing several digital finance innovations through its regulatory sandbox, including the tokenization of gold, government securities, property benefits, and stablecoins. The assessment focuses not only on technological capability but also on public impact and consumer protection.
OJK Chairman of the Board of Commissioners Friderica Widyasari Dewi said the authority wants to ensure that innovation can deliver meaningful benefits for Indonesian society. She made the statement during FEKDI x IFSE 2026 at JICC Senayan, Jakarta, on Thursday, September 24.
“We are not only looking at whether the innovation is technologically advanced, but also whether it has an impact and, most importantly, contributes to the welfare of Indonesian society,” Friderica said.
OJK Regulatory Sandbox Tests Several Innovations
Through the OJK regulatory sandbox, the authority is testing various forms of digital finance. The process covers tokenized gold, government securities, property benefits, crypto asset funds, digital financial asset custodians, and stablecoins.
Friderica said the assessment examines several aspects before an innovation can move toward broader implementation. These aspects include technology readiness, business model feasibility, risk management, and consumer protection.
Consumer protection remains a central consideration in the process. OJK views technological sophistication as only one part of the assessment. The wider impact on users and the financial system also matters.
Successful Innovations Need a Clear Implementation Path
Friderica said innovations that pass the regulatory sandbox still need a clear path before wider adoption. A successful assessment alone does not mark the end of the process.
According to Friderica, implementation requires four aligned foundations. These foundations consist of a roadmap, regulation, infrastructure, and cooperation among ministries and government institutions.
- Roadmap: provides direction for the development and implementation of innovation.
- Regulation: establishes the legal foundation for its operation.
- Infrastructure: supports reliable day-to-day activities.
- Cross-institutional cooperation: helps drive implementation across the relevant sectors.
“For innovations declared to have passed, we must prepare a clear implementation path through four aligned foundations: a roadmap as direction, regulation as a foundation, infrastructure as operational support, and cooperation among ministries and institutions as the main driver,” Friderica said.
Secondary Markets and Secure Asset Storage Matter
OJK also considers the development of secondary markets an important part of implementation. A secondary market can support transactions after an asset or financial product enters the broader ecosystem.
However, the process requires more than transaction activity. It also needs secure and transparent asset storage, clear information, and reliable transaction operations.
These elements can help strengthen trust in digital financial products. In addition, transparent information can help users understand the assets, services, and risks connected to each innovation.
Digital Finance Should Expand Access
Friderica said a successful sandbox process can help create a productive digital finance ecosystem. The ecosystem can expand access to financing and investment while supporting Indonesia’s economy.
Therefore, the OJK regulatory sandbox serves as a testing stage for both innovation and its wider consequences. The authority’s assessment covers technology, business models, risks, infrastructure, and consumer protection.
With a clear implementation path and reliable supporting systems, digital finance innovations can move toward broader use while maintaining attention to public benefits and user protection.
