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Mastercard collaborates with an Indonesian cryptocurrency gateway

14-Jul-2022 By: Rohit Tripathi
Mastercard collabora

Mastercard collaborates with an Indonesian cryptocurrency gateway

Mastercard, a provider of financial services, has teamed up with Fasset, a developer of crypto gateways, to jointly create digital solutions that could accelerate adoption in Indonesia. The partnership seeks to increase financial inclusion in the nation and open up new opportunities for the local economy.

In an announcement, Navin Jain, the national manager for Mastercard Indonesia, said that the company will assist Fasset in its efforts to promote financial inclusion in the nation. Jain claims that the alliance will increase communities' access to modern technologies.

An executive at Fasset named Hendra Suryakusuma told sources that 92 million people in Indonesia are unbanked. Suryakusuma claims that Fasset and Mastercard will close this gap to improve access to digital financial services. Suryakusuma claims that “the objective of our alliance is to increase possibilities for using new financial services while eliminating obstacles to digital banking.”

In addition, the executive thinks that the acceptance of cryptocurrencies in nations like Indonesia will have a big impact on the overall crypto ecosystem. He emphasised that it will act as a model for other nations looking to advance and quicken economic growth.

In June, Mastercard increased the size of its network for nonfungible token (NFT ) exchanges. By partnering with NFT marketplaces, the payment processing company made it possible for its cardholders to buy NFTs with their cards directly, eliminating the need to first buy cryptocurrency.

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