Gold-Backed Crypto Assets in Indonesia: The Conceptual Compatibility of GOIDR with the MUI Fatwas on Cryptocurrency and Gold Transactions

Introduction: Crypto asset growth in Indonesia under Financial Services Authority (OJK) supervision requires clarity on Sharia compatibility for millions of users, while gold-backed crypto assets emerge as an alternative to conventional cryptocurrency. Few studies integrate cryptocurrency fatwas with gold transaction fatwas, particularly on gold ownership. This study analyzes the conceptual compatibility of GOIDR as a gold-backed crypto asset under the 2021 MUI Ijtima’ Ulama Decision and DSN-MUI Fatwas No. 77/2010 and No. 166/2026. Methods: This qualitative juridical-normative study analyzes the GOIDR whitepaper, fatwas, and muamalah fiqh literature through documentary study and descriptive-qualitative deductive analysis. Results: Results show that GOIDR is better positioned as a commodity (sil’ah) than a currency (naqd). Gold backing, one token per gram, and minting, burning, and redemption mechanisms support underlying asset and sil’ah criteria, while fractional ownership resembles musya’. However, reserve verification, holders’ rights to the gold, qabd, contract structure, and redemption (one-gram minimum, fees) remain unverified. Conclusion and suggestion: GOIDR’s conceptual compatibility depends not only on gold as the underlying asset but also on ownership certainty, contract structure, qabd, and redemption. Theoretically, this study contributes a normative framework integrating crypto and gold fatwas; practically, it maps compatible and refinement-needed GOIDR aspects. Reserve audits, contract reviews, and redemption observations are recommended.