Tokenize Indonesia Launched to Boost US$88 Billion Asset Tokenization Market

Saison Capital, BRI Ventures, and Coinvestasi have launched a new accelerator program called Tokenize Indonesia. The launch was announced at the annual ONCHAIN 2025 conference, which was led by Saison Capital, D3 Labs, Helix, and Emurgo. The event brought together over 500 leading investors, founders, and leaders in the Real-World Asset (RWA) industry, representing both traditional finance and fintech sectors.

The Tokenize Indonesia program aims to identify and support start-ups in the blockchain and tokenization space, focusing on real-world assets. This initiative is based on the findings from the November 2024 report, “Project Wira – Indonesia’s Asset Tokenization Opportunity,” which highlights the significant potential for asset tokenization in the country. The report estimates a US$88 billion market potential for asset tokenization in Indonesia, indicating the vast opportunities that real-world asset tokenization presents.

The accelerator program will run from April to August 2025. During this period, short-listed start-ups will have the opportunity to run Proof Of Concepts (POCs) with leading corporations across Indonesia, including financial institutions like Bank Rakyat Indonesia (BRI) and telecommunication providers like Telkom Indonesia. This collaboration is designed to drive innovation and adoption of tokenized assets in the country.

In August, the program will culminate with the short-listed start-ups being showcased at Asia’s largest crypto festival, Coinfest Asia, scheduled for 21 – 22 August in Bali. This event will provide a platform for these start-ups to demonstrate their solutions and gain exposure to a broader audience.

Qin En Looi, Partner at Saison Capital, commented on the initiative, stating, “At Saison Capital, we believe that blockchain technology and its widespread benefits are foundational in shaping the future of inclusive finance, transforming existing financial systems, and creating more equity for all. Despite the current market volatility, we remain active investors in blockchain startups solving real-world finance problems. It is crucial that we rally key partners to drive greater support for founders to solve existing challenges faced by corporations, and are glad to have found like-minded partners such as BRI Ventures and Coinvestasi.”

Markus Liman Rahardja, Chief Investment Officer at BRI Ventures, added, “As the venture arm of one of Indonesia’s leading financial groups, BRI Ventures is committed to continuously exploring and investing in transformative technologies that will shape the future of finance in Indonesia. Our goal is to foster meaningful collaboration between well-established financial institutions and innovative, fast-moving technology partners. By bridging these two worlds, we aim to catalyze sustainable growth, drive financial inclusion, and accelerate the adoption of digital assets across Indonesia.”

Steven Suhadi, Founder of Coinvestasi, also commented, stating that Indonesia is already a thriving web3 ecosystem and the company is helping to connect the ecosystem by “fostering dialogue, sharing insights, and enabling partnerships that drive the industry forward” as Indonesia witnesses rapid growth in developer talent, institutional engagement, and regulatory clarity, all of which are laying the foundation for long-term progress.

The Project Wira report, developed by BRI Ventures, Saison Capital, D3 Labs, and Tiger Research, highlights the potential of blockchain to transform Indonesia’s financial ecosystem. Currently, 7% of Indonesia’s population owns digital assets, far surpassing the 6.4 million stock investors on the Indonesia Stock Exchange (IDX). Even with this number, there is still potential for greater adoption, as innovations have already emerged in areas such as digital money, commodities, bonds, carbon credits, and real estate.

Users of RWA start-ups interested in leveraging the immense opportunity in Indonesia can apply to Tokenize Indonesia through the official website. This initiative represents a significant step forward in the adoption of blockchain technology and tokenization in Indonesia, with the potential to drive innovation and financial inclusion across the region.