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World First: Timor-Leste Launches Straight-to-Digital Finance Infrastructure Project

  • Jun 8
  • 3 min read

Updated: Jun 13

The Government of Timor-Leste partners with Toroa Group to develop sovereign digital bonds, digital capital markets infrastructure, and next-generation financial systems.


DILI, TIMOR-LESTE - [date] - The Government of Timor-Leste, a Southeast Asian nation between Australia and Indonesia, has partnered with Toroa Group as its strategic advisory and infrastructure partner to develop a national digital finance infrastructure roadmap, positioning the country to leapfrog legacy financial systems and accelerate access to modern capital markets infrastructure. Under the engagement, Toroa Group will advise on and help structure a series of initiatives, including sovereign digital bonds, digital capital markets infrastructure, merchant payments and financial inclusion initiatives, and cross-border investment connectivity.


The engagement follows a multi-day delegation in Dili involving government representatives, international financial stakeholders, and digital finance specialists focused on the future of sovereign financial infrastructure in emerging economies. Joining the delegation was Aaron Wilson, Founder of Akau Capital, who will be leading several Blue Economy initiatives.


The first workstream under the engagement is the structuring of a sovereign digital infrastructure bond, intended to support capital formation and international investment access for Timor-Leste. Toroa Group’s strategic partner, EPOCH Digital Credit, a digital capital markets and credit infrastructure firm, is supporting the digital issuance, structuring and distribution process.


The timing is significant. Timor-Leste uses the United States dollar as its official currency, providing a natural bridge into global capital markets. Following its accession to ASEAN in October 2025, the initiative also supports the country’s broader ambition to deepen regional integration, attract international investment, and participate more fully in Southeast Asia’s economic growth. Rather than retrofitting decades-old financial systems, Timor-Leste is pursuing a 'straight-to-digital' approach to financial infrastructure development, drawing on modern technologies, governance frameworks, and programmable financial rails from the outset. The initiative is among the first sovereign-led efforts globally to take a coordinated, national approach to digital financial infrastructure.


His Excellency Mr Francisco Kalbuadi Lay, who serves as the First Deputy Prime Minister, Coordinating Minister of Economic Affairs, and Minister of Tourism and Environment, said:

“Timor-Leste has an opportunity to think long term and build for the future. We are interested in exploring how modern digital financial infrastructure can strengthen investment connectivity, expand access to capital, and support the next stage of economic development for our country.”

Toroa Group has been engaged as the advisory and infrastructure partner for the roadmap, drawing on its experience across digital assets, tokenised financial infrastructure, stablecoins, and capital markets innovation.

Ryan Johnson-Hunt, CEO of Toroa Group, said:

“Many countries face the challenge of modernising legacy financial systems while maintaining international compatibility and trust. Timor-Leste has a rare opportunity to build digitally native financial infrastructure from the ground up. Being Māori myself, I’m aligned with indigenous sovereignty and am honoured to support the Government with strategic guidance, cutting edge infrastructure expertise, and access to global digital finance networks.”

As part of the engagement, Toroa Group and EPOCH are expected to leverage their partnerships across the digital asset and institutional infrastructure ecosystem such as Canton Network, Tether, droppRWA, and Zodia Custody. The engagement will explore internationally aligned approaches to governance, compliance, and institutional-grade digital infrastructure, including selected applications of blockchain and tokenisation technologies where appropriate.


No specific financial products or issuances have been formally announced at this stage. The current phase of the engagement is focused on strategic planning, stakeholder engagement, capability development, and roadmap design. The delegation reflects growing global interest in digital financial infrastructure as governments and institutions evaluate new models for capital formation, payments, investment access, and sovereign financing.


The Delegation at the office of the Deputy Prime Minister.

  1. His Excellency Mr Francisco Kalbuadi Lay, First Deputy Prime Minister (centre left)

  2. Her Excellency Mrs. Idelta Maria Rodrigues, Ambassador of Timor-Leste to New Zealand (centre right)

  3. Dave Ananth, Honorary Consul for Timor-Leste in Auckland (3rd from right)

  4. Ryan Johnson-Hunt, CEO of Toroa Group (3rd from left)

  5. Jorge Dasilako Jr, General Coordinator for Economic Affairs Minister (2nd from left)

  6. Aaron Wilson, CEO of Akau Capital (2nd from right)

  7. Rita Caeiro, Office of the Vice Prime Minister (far left)

  8. Izaura Olivera Sarmento, Advisor to the Office of the Vice Prime Minister (far right)



His Excellency Mr Francisco Kalbuadi Lay, First Deputy Prime Minister, and Ryan Johnson-Hunt, CEO of Toroa Group




About Timor-Leste

Timor-Leste is one of the world’s youngest countries, having restored its independence in 2002. Its economy has historically been anchored by oil and gas, alongside agriculture, coffee, public sector activity, and emerging tourism. The country is now seeking to grow new pillars of economic development, including tourism, agriculture, manufacturing, services, digital infrastructure, and regional investment connectivity as it deepens its role in ASEAN and the wider global economy.


About Toroa Group

Toroa Group helps companies, fund managers, and governments expand into digital finance through trusted infrastructure and operating support. Their global team works across digital assets, tokenised capital markets, stablecoins, and next-generation financial infrastructure initiatives. Learn more at www.toroa.xyz.


Press and media enquiries to press@toroa.xyz


 
 
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