Fasset to Drive Financial Inclusion in Indonesia with Mastercard

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Digital assets-based fintech startup Fasset Technologies has partnered with payments giant Mastercard to drive financial inclusion in Indonesia.

This move comes off as one of Fasset’s international expansion moves since it raised $22 million in a Series A back in April.

As detailed, Fasset will bring its custom technologies to digitize banking services for Indonesians, drawing on the local integration of Mastercard to create economic opportunities for all.

“The world is changing at an unprecedented rate. With more people relying on digital assets and technologies to become resilient, there is a need for key players in the public and private sectors to come together to create solutions that can lead to new opportunities and solutions for wider financial inclusion,”, said Navin Jain, Country Manager, Indonesia, Mastercard.

The payment operator said will provide solutions in digital payments and cyber-security for Fasset to support Indonesia’s efforts in financial inclusion and advance broader access to digital technologies

Indonesia is increasingly becoming a hotbed for blockchain-related advancement. While the nation as a whole integrated blockchain into its digital economy back in September 2019, private crypto engagement has been growing rapidly over the past few years.

With more than 92 million unbanked citizens in Indonesia as of 2021 according to the Jakarta Post, Fasset alongside Mastercard expect to provide more accessible financial and digital tools that will help close the digital divide and improve the livelihood of communities. 

The partnership between Mastercard and Fasset is designed to complement related vacancies from other outfits, and the duo will promote digital education and other initiatives to drive financial inclusion across the board. 

The push by Fasset and Mastercard is expected to empower the masses but also contribute to the government’s digital economic liberation. Besides the duo, Pintu, a crypto exchange that pulled $35 million in funding last year is also among the startups looking to drive change in Indonesia.

Image source: Shutterstock

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