Peran Fintech dalam Pembentukan Pasar Global untuk Mata Uang Digital: Dampak Terhadap Stabilitas Ekonomi
DOI:
https://doi.org/10.62710/ydzn1q91Keywords:
Digital Currency, Blockchain, Economic Stability, Global RegulationAbstract
The development of information and communication technology has driven significant innovation in the financial sector through Financial Technology (Fintech). This article explores the role of Fintech in shaping the global market for digital currencies and its impact on economic stability. Using a qualitative descriptive approach and literature review, this study finds that Fintech, through technologies such as blockchain, peer-to-peer (P2P) lending, and Decentralized Finance (DeFi), facilitates efficient cross-border transactions, enhances financial inclusion, and creates a more interconnected global financial ecosystem. Additionally, digital currencies such as cryptocurrencies and Central Bank Digital Currencies (CBDCs) offer potential benefits in transaction efficiency, transparency, and reduced global transaction costs. However, the adoption of digital currencies also presents challenges, including high value volatility, risks to monetary policy, and opportunities for illegal activities such as money laundering. This article recommends the importance of comprehensive global regulatory policies to mitigate risks, control the circulation of digital currencies, and ensure economic stability in the digital era. Thus, Fintech and digital currencies can be optimized as catalysts for supporting inclusive and sustainable global economic growth.
Downloads
References
Al Kasasbeh, O., Khasawneh, O., & Alzghoul, A. (2023). the Real Effects of Fintech on the Global Financial System. International Journal of Professional Business Review, 8(3), 1–12. doi:10.26668/businessreview/2023.v8i3.1725
Angorani, S. (2024). Global Dynamics of Cryptocurrency Adoption: An Empirical Exploration of Fintech’s Influence on The Evolution of Digital Currencies. Journal of Indonesian Economy and Business, 2(04), 47–64. Retrieved from https://journal.seb.co.id/ijebam/index
Arner, D. W., Buckley, R. P., Zetzsche, D. A., & Veidt, R. (2020). Sustainability, FinTech and Financial Inclusion. European Business Organization Law Review, 21(1), 7–35. doi:10.1007/s40804-020-00183-y
Belke, A., & Beretta, E. (2020). From cash to central bank digital currencies and cryptocurrencies: a balancing act between modernity and monetary stability. Journal of Economic Studies, 47(4), 911–938. doi:10.1108/JES-07-2019-0311
Belozyorov, S., Sokolovska, O., & Kim, Y. S. (2020). Fintech as a precondition for transformations on global financial markets. Foresight and STI Governance, 14(2), 23–35. doi:10.17323/2500-2597.2020.2.23.35
Bouis, R., Gelos, G., Miettinen, P., Nakamura, F., Nier, E., & Soderberg, G. (2024). Central Bank Digital Currencies and Financial Stability : Balance Sheet Analysis and Policy Choices. International Monetary Fund.
Cevik, S. (2023). The Dark Side of the Moon ? Fintech and. International Monetary Fund.
Harahap, B. A., Idham, P. B., Kusuma, A. C. M., & Rakhman, R. N. (2019). Perkembangan Financial Technology terkait Central Bank Digital Currency (CBDC). Bank Indonesia Report. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 9(3), 2010–2021. doi:10.30651/jms.v9i3.23293
Kabulova, J. (2023). Impact of FinTech innovation on the financial sector’s stability, (S 004). doi:10.20334/2023-033-M
Kusuma, H., & Asmoro, W. K. (2021). Perkembangan Financial Technologi (Fintech) Berdasarkan Perspektif Ekonomi Islam. ISTITHMAR : Jurnal Pengembangan Ekonomi Islam, 4(2), 141–163. doi:10.30762/itr.v4i2.3044
Luu, H. N., Nguyen, C. P., & Nasir, M. A. (2023). Implications of central bank digital currency for financial stability: Evidence from the global banking sector. Journal of International Financial Markets, Institutions and Money, 89(December 2022), 101864. doi:10.1016/j.intfin.2023.101864
Masitoh, F. N., & Rohmah, M. (2024). THE FUTURE OF MONETARY ECONOMICS AND FINANCIAL. Jurnal Kajian Ilmu Teknologi (JKIT), 1(1), 35–42. Retrieved from https://jurnal.citanusantara.id/index.php/jkt/index
Purwanto, H., Yandri, D., & Yoga, M. P. (2022). Perkembangan Dan Dampak Financial Technology (Fintech) Terhadap Perilaku Manajemen Keuangan Di Masyarakat. Kompleksitas: Jurnal Ilmiah Manajemen, Organisasi Dan Bisnis, 11(1), 80–91. doi:10.56486/kompleksitas.vol11no1.220
Risman, A., Mulyana, B., Silvatika, B. A., & Sulaeman, A. S. (2021). The effect of digital finance on financial stability. Management Science Letters, 11, 1979–1984. doi:10.5267/j.msl.2021.3.012
Sadiq, M., Aysan, A. F., & Kayani, U. N. (2023). Digital currency and blockchain security in accelerating financial stability: A mediating role of credit supply. Borsa Istanbul Review, 23(6), 1251–1262. doi:10.1016/j.bir.2023.09.009
Saraswati, B. D., & Tisnawati, N. M. (2021). Pengaruh Financial Technology Terhadap Stabilitas Sistem Keuangan di Indonesia : Pendekatan Vector Error Correction Model. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 10(10), 921.
Vučinić, M. (2020). Fintech and Financial Stability Potential Influence of FinTech on Financial Stability, Risks and Benefits. Journal of Central Banking Theory and Practice, 9(2), 43–66. doi:10.2478/jcbtp-2020-0013
Zeidy, I. A. (2022). The role of financial technology (FINTECH) in changing financial industry and increasing efficiency in the economy. COMESA Monetary Institute, 1–20.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Nelly Nur Rohmah, Nu’matun Najibah, Amelia Rohmawati, Pungky Lela Saputri (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
