01
Bank Indonesia and OJK cover different functions
Bank Indonesia regulates payment systems and PJP. OJK covers financial services, technology innovation and digital financial assets and has supervised crypto since 10 January 2025.
02
PJP licensing follows the money flow
Functions include account information, payment initiation/acquiring, administration of sources of funds and remittance. Identify who receives, holds, moves and returns funds and keeps the ledger.
03
OJK: lending, investment and digital finance
Lending, securities, investment management, insurance, crowdfunding and technology innovation follow their own categories. OJK has used SPRINT as a one-stop licensing service for covered sectors since 1 September 2025.
04
Crypto is a regulated market
OJK supervision is not permission to operate freely. Test operator category, trading, custody, governance, capital, technology, conduct, customer assets and AML/CFT.
05
Build the licensing file before the final product
Align the company, controllers, fit-and-proper people, capital, forecasts, AML/CFT, safeguarding, consumer protection, cyber, outsourcing, data, continuity and go-live controls.