Global Settlement Network to tokenize Jakarta water facilities in $200m Southeast Asia push

Global Settlement Network announced plans Wednesday to tokenize eight government-contracted water treatment facilities in Jakarta, launching a pilot that aims to scale to $200 million in tokenized water infrastructure across Southeast Asia within a year.

The blockchain infrastructure firm will partner with Globalasia Infrastructure Fund to raise up to $35 million initially for facility upgrades and network expansion.

Jakarta pilot anchors tokenized water infrastructure rollout

The pilot phase of the tokenized water infrastructure project will focus on eight water treatment sites in Jakarta that operate under government contracts. According to the companies involved, the goal is to raise up to $35 million to upgrade aging facilities and expand the city’s water distribution network.

The project is being led by , in partnership with . Together, the firms plan to tokenize the revenue-generating assets linked to water treatment, giving investors exposure to infrastructure returns through blockchain-based instruments.

Real-world asset tokenization, including tokenized water infrastructure, involves minting representations of tangible assets on a blockchain. Proponents say this approach can lower barriers to entry for investors, improve liquidity, and create new ways to fund long-term projects that often struggle to attract capital through traditional channels.

Following the Jakarta pilot, the companies intend to expand the model across Southeast Asia, ultimately targeting $200 million in tokenized water infrastructure assets within 12 months.

Financing gaps drive tokenized water infrastructure interest

Supporters of the initiative argue that tokenized water infrastructure could help address a critical investment shortfall across the region. Southeast Asia faces a growing water infrastructure financing gap, with more than $4 trillion in long-term investment required by 2040, according to estimates cited by the firms. Current spending levels are falling well short of that need.

Mas Witjaksono, chairman of Globalasia Infrastructure Fund, said the approach could unlock underutilized value in infrastructure and natural assets.

“The project offers significant opportunities for growth, as Indonesia has numerous major infrastructure developments and natural assets that can be accessed for tokenization,” Mas Witjaksono, Chairman, Globalasia Infrastructure Fund.

Industry executives involved in real-world asset markets have increasingly pointed to emerging economies as fertile ground for tokenized water infrastructure and similar projects. Many of these markets face persistent challenges in capital formation and attracting foreign investment, making alternative financing models more attractive.

The Jakarta initiative also includes plans to test rupiah-stablecoin settlement rails in controlled corridors before expanding into additional foreign exchange routes. If successful, these rails could streamline cross-border investment into tokenized water infrastructure projects.

Southeast Asia adoption underpins tokenized water infrastructure growth

The choice of Southeast Asia as a launchpad for tokenized water infrastructure is not accidental. The region already ranks among the world’s most active crypto markets, with strong on-chain usage and growing familiarity with digital assets.

In its crypto adoption index released in September, identified the Asia-Pacific region as the fastest-growing market for on-chain activity, recording a 69% year-over-year increase in value received. In a follow-up report, Indonesia emerged as the second-largest market globally for on-chain value in the 12 months leading up to June 2025, with a 103% increase.

These trends provide a supportive backdrop for tokenized water infrastructure, as local familiarity with crypto reduces barriers to adoption for blockchain-based financing tools. Meanwhile, the broader real-world asset market continues to expand.

Data from shows that more than $21 billion in real-world assets is already represented on-chain, spread across over 629,000 holders.

While tokenized water infrastructure remains a niche within the broader RWA space, the scale of the Jakarta pilot and its planned regional expansion suggest growing confidence that blockchain can play a practical role in funding essential services.

As governments and investors search for new ways to finance infrastructure, the success or failure of this project could shape how widely tokenization is applied beyond financial assets.