Indonesia’s Financial Services Authority announced that seven financial technology innovation participants graduated from its regulatory sandbox through August 2026. The cleared operations span gold tokenization, securities tokenization under a fund management contract scheme, property ownership benefit tokenization, rupiah stablecoin issuance, non-trading digital financial asset custody, and crypto fund management.
Direct registration pathways
Financial sector technology innovation providers that share the same business model as the seven graduated participants can now register directly with the regulator without entering the sandbox, creating an established regulatory pathway for tokenized assets.
Demand for the sandbox remains high across the domestic financial technology ecosystem. Through 31 August 2026, the regulator received 351 consultation requests from prospective sandbox participants following the issuance of POJK 3/2024. As of 7 September 2026, the authority was evaluating 4 new applications to become sandbox participants.
Supervision and sanctions
The authority has also maintained regular reporting and licensing frameworks across digital financial services, tracking 8 registered Alternative Credit Rating providers and 16 registered Financial Service Aggregation providers as of August 2026. During July 2026, Alternative Credit Rating providers received 28.32 million credit scoring data requests, while Financial Service Aggregation providers recorded 19.26 million users across Indonesia and settled transactions worth Rp2,410,000,000,000 approved by partners.
Alongside approvals, the agency enforced disciplinary measures across sector participants. In August 2026, the authority imposed 3 written warning sanctions on two digital financial asset operators. On 31 July 2026, it cancelled the registration of PT Unicorn Teknologi Indonesia, known as Finvey, a Financial Service Aggregation fintech provider.
“Compliance enforcement and the imposition of sanctions aim to encourage industry players to continually improve good governance, prudential principles, and regulatory compliance,” said Adi Budiarso, Executive Head of Financial Sector Technology Innovation, Digital Financial Assets, OJK.
Source: Indonesia's Financial Services Authority
