OJK trims and rebuilds Indonesia's digital-asset stack as BI adds South Korea QRIS
OJK's March 2026 revocation-and-relicensing cycle shows the digital-asset institutional layer is being actively rebuilt, not merely inherited, while Bank Indonesia keeps widening supervised cross-border payment connectivity. The result is a more bank-centred cash leg, a more selective licensed operator stack, and a still-incomplete map of live counterparties.
Key takeaways
- • PT Tennet Depository Indonesia's licence revocation, effective 12 March 2026, shows OJK is willing to remove a support institution from the inherited stack; the public notice cites the decree and stop-order but does not disclose the underlying breach.
- • March 2026 licence grants to PT Arganis Konsultindo Utama and PT Pranata Karya Solusi widen the named custody/depository and clearing-settlement layer, pointing to active market-structure engineering rather than simple conversion of legacy registrations.
- • POJK 27/2024, as amended by POJK 23/2025, makes the rupiah cash leg explicitly banked and segregated, which is constructive for large-bank safeguarded-funds roles even as BI's Korea QR launch adds corridor connectivity without yet disclosing full technical settlement mechanics.
Trigger
BI Korea QR launch
Bank Indonesia announced that Indonesia and South Korea are now linked by cross-border QR payments, framing the launch as making cross-border transactions faster, easier, and cheaper.
Open source documentSN Desk view
Indonesia's financial regulators are doing two things at once: OJK is actively reshaping the digital-asset institutional stack, and Bank Indonesia is expanding the country's cross-border payment network. In March 2026, OJK granted two new support-institution licences -- PT Pranata Karya Solusi for clearing and settlement, PT Arganis Konsultindo Utama for depository and custody -- and revoked PT Tennet Depository Indonesia's licence. The revocation notice does not disclose the specific breach, but the pattern is clear: OJK is willing to add and remove licensed nodes in the same month.
On the payment side, Bank Indonesia launched QR interoperability with South Korea on 1 April -- the fifth bilateral corridor after Thailand (2022), Malaysia (2023), Singapore (2023), and Japan (2025). BCA, Indonesia's largest private bank, is a named day-one participant on both the QRIS cross-border and the KRW local-currency transaction side. That is the clearest public positioning of BCA in Indonesia's evolving digital infrastructure: on BI-supervised payment rails, not yet on the publicly named crypto-support roster. Indonesia is becoming more structured at the infrastructure level -- but public disclosure on named bank-to-crypto partnerships and exact cross-border settlement mechanics remains incomplete.