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Marking a pivotal point, Indonesias efforts underscore its drive to harness digital technologies for modernising payment systems while safeguarding financial stability and promoting inclusivity. The PoC demonstrated the transformative potential of DLT-based systems in improving liquiditymanagement.
The partnership supports Payment Canada's need for RTR to enable ISO20022 messaging standards and remain in compliance with the Bank of Canada 's risk management standards for payment systems, an announcement revealed. TOMIA and Clear Embrace Blockchain for Telecom B2B Payments.
This phase, part of the Immediate State of Project Garuda, focused on testing a distributedledgertechnology (DLT)-based wholesale cash ledger system to assess its feasibility, security, and compatibility with Indonesia’s financial ecosystem.
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