Indonesia says six digital-asset sandbox applications are under review
OJK’s October update shows six digital-asset or crypto models among seven pending sandbox applications, while one such participant is currently testing.
In brief
- Indonesia’s OJK says six of seven applications it is evaluating for sandbox entry involve digital-asset or crypto business models.
- The active sandbox cohort has five participants, but only one is classified as a digital-asset or crypto operator.
- Passing the sandbox is not the same as receiving a licence; successful models can proceed to registration or a business-permit application.
Digital-asset models dominate the applications awaiting a decision
Indonesia’s Financial Services Authority, known as OJK, says six digital-asset or crypto business models are among seven applications it was evaluating for entry into its regulatory sandbox as of 31 October 2026. The remaining application concerns a market-support business. The figures appeared in OJK’s 5 November monthly financial-sector update and provide a view of the pipeline before applicants enter supervised testing. OJK reported 43 sandbox applications and 387 consultation requests in total since its 2024 financial-technology innovation rules took effect. Those cumulative figures cover a broader range of financial technology, not only digital assets.
The current testing cohort is smaller than the application queue
OJK said five participants were actively in the sandbox at the reporting date. One was classified in the digital-financial-asset and crypto-asset category, while four were market-support providers. The difference between six digital-asset applications being evaluated and one digital-asset participant already testing matters: an application under evaluation has not yet been admitted to the sandbox, and sandbox admission itself is not approval to offer a product broadly. OJK described the evaluation stage as a check on an applicant’s readiness before testing begins.
Earlier graduates show the types of models OJK is willing to test
Seven participants had previously completed testing and received a “passed” result. Their models covered gold tokenization, securities tokenization through a fund-management contract, tokenized property-ownership benefits, a rupiah stablecoin issuer, non-trading digital-asset custody and crypto-fund management. These graduations were disclosed in earlier OJK updates and are context, not new approvals in the November release. The regulator says businesses using the same types of innovation may apply for registration without repeating sandbox development testing.
Sandbox status and operating permission remain separate
A successful sandbox result creates a route to the next regulatory step; it does not by itself establish that a stablecoin, fund or custody service is licensed and live. OJK’s update separately counted 34 approved entities in Indonesia’s crypto-trading ecosystem: two exchanges, two clearing and settlement institutions, two custodians and 28 digital-financial-asset traders. It also said applications from one prospective exchange, one clearing institution, one custodian and one trader were being evaluated. Readers assessing an Indonesian service therefore still need to check the relevant OJK register rather than treating a sandbox reference as permission to operate.
Sources and verification
Based on an official announcement
Translated from OJK’s Indonesian-language release dated 5 November 2026. The article separates applications under evaluation, active sandbox participants, passed sandbox models and separately approved crypto-trading entities; OJK did not identify the six pending digital-asset applicants.
- October 2026 monthly financial-sector update Indonesia Financial Services Authority (OJK) · Primary document · 5 Nov 2026
Prepared with AI assistance from the linked sources. This is not a claim of independent field reporting or human review. How we publish · Report a correction
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