Global tech payments firm, Mastercard, and a top crypto gateway provider in Indonesia, Fasset, have officially become partners. Both firms will collaborate in the partnership deal to develop digital solutions and facilitate crypto adoption in Indonesia.
The partnership also aims to improve the local economy by increasing financial inclusion among Indonesians and provide more opportunities. The financial services company wants to provide all the support that Fasset needs to improve financial inclusion in the south Asian nation, said Mastercard Indonesia executive Navin Jain.
According to Jain, the collaboration will provide residents with greater access to digital technologies. One of Fasset’s top-level executives, Hendra Suryakusuma, told the media that over 91 million Indonesian population are unbanked. Suryakusuma further added one of the objectives of this partnership is to ensure that the majority of this unbanked population can access financial services in the shortest time.
“Our collaboration aims to reduce the obstacle of access to digital finance. Thus, we can enable more persons enjoy the benefits of newer financial services technology.”
A greater crypto adoption in nations such as Indonesia would positively affect the wider crypto space, said The Fasset executive. A greater adoption in Indonesia will influence more countries to follow the same path. That would improve the pace of growth of their economy eventually.
Legalizing of crypto assets will expand their application and use cases. This improves the nation’s various industries and the wider local economy in general. Ethereum-based Fasset is a blockchain that enables crypto swaps.
its headquarters is in the UK and It started operations three years ago. Emerging economies has been its target audience. The firm has also obtained three operating licenses from Malaysia’s financial regulator last month, to extend its services to Malaysians.