Circle Internet Corp. (CRCL), the company behind the popular USDC stablecoin, saw its stock soar 5.02% in intraday trading on Friday. The surge comes amid news that Bank Indonesia, the country's central bank, is preparing to launch a national stablecoin based on government securities.

The announcement, made by Bank Indonesia Governor Perry Warjiyo at the Indonesia Digital Economy and Finance Forum (FEKDI-IFSE 2025), signals a significant step towards integrating blockchain technology into Indonesia's official monetary system. This move could have far-reaching implications for global stablecoin issuers like Circle, as it demonstrates growing acceptance of digital currencies by central banks.

While the introduction of a national stablecoin in Indonesia could potentially create competition for Circle's USDC in the region, investors appear to be viewing this development positively. The news underscores the increasing mainstream adoption of stablecoin technology, which could ultimately benefit established players in the space. As more countries explore and implement their own digital currency solutions, Circle's expertise and market position could become increasingly valuable in the evolving landscape of global digital finance.