Based on Article 23 of the POJK regarding the Implementation of FSTI, OJK supervises FSTI Providers who have been registered and/or obtained business licenses from OJK, where:
Sandbox participants who are declared to have passed the Regulatory Sandbox must apply for a business license to OJK within the validity period of the letter of graduation; and
Parties who have the same type of FSTI as the type of FSTI Sandbox Participants who have passed, have the same right to apply for registration or business license to OJK.
A. FSTI Registration and Licensing Mechanism Flow (Sandbox Follow-up)
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B. FSTI Registration
In accordance with POJK 3/2024 concerning the Implementation of FSTI, OJK may determine Sandbox Participants that have succesfully passed the Sandbox stage may proceed with registration prior to applying for a business license, based on considerations assessed by OJK, covering:
the readiness of the Participant, including institutional, capital, and technological infrastructure aspects;
the readiness of the regulatory framework; and
the readiness of other supporting market infrastructure.
In addition to Sandbox Participants that have passed the Sandbox stage, entities having the same type of FSTI as that of the Sandbox Participants that have passed the Sandbox stage, shall have the same right to submit a registration application to OJK, whereby each type of FSTI shall have criteria containing information regarding products, activities, services, and business models within the digital financial ecosystem that possess specific characteristics and are derived from the Sandbox process.
C. Licensing of FSTI, Digital Financial Assets and Crypto Assets
Licensing Process Flow for FSTI, Digital Financial Assets, and Crypto Assets
Prior to submitting a licensing application, prospective applicants are required to register an account and activate access SPRINT and SIPO.
Through SPRINT, applicants are required to register an account and select the subsector corresponding to the type of business activity to be applied for. Subsequently, the SIPO system will issue a registration fee invoice which must be settled by the applicant as part of the administrative application process.
Following the payment and verification of the registration fee, the application account in the SIPO system will be activated, enabling the applicant to proceed with the completion of the business license application form and the submission of documents through SPRINT.
Accordingly, account registration and settlement of the registration fee through SIPO constitute mandatory preliminary steps that must be completed before the licensing application process may proceed further.
FSTI Licensing
In accordance with Article 4 of POJK 3/2024 concerning the Implementation of FSTI, FSTI Operators are required to comply with the licensing provisions stipulated by OJK. OJK grants a business license to Entities that have completed the licensing process, comprising Sandbox Participants that have passed the Sandbox stage and entities having the same type of FSTI as that of the Sandbox Participants that have passed the Sandbox stage.
Following the issuance of POJK Number 29 of 2024 concerning Innovative Credit Scoring (ICS) and POJK Number 4 of 2025 concerning Financial Services Aggregation Operator (FSAO), applications for ICS and FSAO business activities are no longer submitted through the registration mechanism for FSTI operators.
Prospective operators with business model of ICS or FSAO are requested to directly submit an application through the Business Licensing module through SPRINT OJK in accordance with the prevailing regulations.
Please note that submissions through the FSTI Registration menu cannot be used for ICS and FSAO business model, as both business model activities are already subject to their respective regulations.
Prior to submitting an application, prospective applicants are expected to:
- ensure the alignment of the business model with the applicable ICS or FSAO regulations;
- review the required licensing requirements and supporting documents; and
- ensure that the application is submitted through the appropriate module in SPRINT OJK.
Licensing of Digital Financial Assets and Crypto Assets
Pursuant to the transfer of duties from Bappebti to OJK as mandated under Article 8 point 4 and Article 312 section (1) of Law Number 4 of 2023 concerning Financial Sector Development and Strengthening (UU P2SK) and Government Regulation Number 49 of 2024 concerning the Transfer of Regulatory and Supervisory Duties over Digital Financial Assets, including Crypto Assets, and Financial Derivatives, the Minutes of Handover (BAST) and Memorandum of Understanding (MoU) were signed on 10 January 2025.
Meanwhile, OJK has issued POJK Number 27 of 2024 concerning Trading of Digital Financial Assets, including Crypto Assets, as amended by POJK Number 23 of 2025 concerning Amendments to POJK Number 27 of 2024, as well as SEOJK Number 20/SEOJK.07/2024 concerning Trading of Digital Financial Assets, including Crypto Assets, which set out the principal regulatory provisions and implementing requirements related to the Trading of Digital Financial Assets, including Crypto Assets.
Accordingly, the application mechanism, procedures, and required licensing documents for Digital Financial Asset Trading, including Crypto Asset, shall refer to the provisions set out in the relevant POJK and SEOJK.
D. Licensing of Digital Financial Assets including Crypto Assets
In regards to the transfer of duties from Bappebti to OJK as mandated in Article 8 number 4 and Article 312 paragraph (1) of Undang-Undang number 4 of 2023 regarding the Development and Strengthening of the Financial Sector (P2SK Law) and Government Regulation Number 49 of 2024 regarding the Transfer of Tasks for the Regulation and Supervision of Digital Financial Assets, including Crypto Assets and Financial Derivatives, has been officiated the signing of the Handover Minutes and Memorandum of Understanding (MoU) on January 10, 2025.
Meanwhile, OJK has issued Financial Services Authority Regulation (POJK) Number 27 of 2024 regarding the Implementation of Digital Financial Asset Trading Including Crypto Assets (POJK AKD AK) and the Financial Services Authority Circular Letter (SEOJK) Number 20/SEOJK.07/2024 regarding the Implementation of Digital Financial Asset Trading Including Crypto Assets (SEOJK AKD AK) which contains the main points of related regulations. Thus, the submission mechanism and documents for licensing applications for Digital Financial Asset Trading Operators can refer to the POJK.
FAQ Licensing of FSTI, Digital Financial Asset and Crypto Asset.pdf
