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Indonesia’s Digital Rupiah Game Plan: Everything You Need to Know
Bank Indonesia announced the country’s very own central bank digital currency (CBDC), named the “digital rupiah,” to move forward with the country’s initiative of “advanced digital transformation.”...
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Indonesia’s BI-FAST to Expand Its Real-Time Payment Services and Banks...
Indonesia’s domestic real-time payments scheme BI-FAST, launched by Bank Indonesia and powered by ACI Worldwide, has announced plans to launch a wide range of new real-time payment services. BI-FAST...
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FinAccel Appoints Slack’s Former CFO Allen Shim to Its Board Ahead of IPO Plans
FinAccel, the parent company of Indonesian Buy Now, Pay Later (BNPL) platform Kredivo, announced that Allen Shim has joined its Board of Directors. Allen was the senior finance leader for Slack since...
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Travel Insurance Represents Massive Opportunities for Insurtech as The World...
Insurtech startups in the Southeast Asian region are capitalising on the heightened need that consumers now have for travel coverage, even as the majority of countries globally relax travelling...
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Binance Buys Majority Stake in Indonesia’s Tokocrypto, Lays off 58% Of Workforce
Global cryptocurrency exchange Binance announced that it has become the majority shareholder in Indonesia’s crypto assets digital exchange Tokocrypto. Details of the transaction was not disclosed....
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East Ventures to Invest US$500K in Winners of Its Hackathon for Laid-off Tech...
Indonesia-focused venture capital firm East Ventures announced that it has selected 30 teams from its hackathon programme for laid-off tech employees, PASTI BISA, Maju Terus Pantang Mundur (IDPB MTPM)....
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Indonesia Expected to be South East Asia’s Biggest BNPL Market by 2025
BNPL has become a popular payment option in Indonesia due to its convenience and flexibility. With relatively low financial inclusion and even lower credit card penetration, BNPL offers the Indonesian...
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Top 5 Fintechs in Indonesia to Watch in 2023
As we move into a new year, it’s time to start looking ahead to the next big thing in fintech. And there’s no better place to start than Indonesia. The country’s Ministry of Finance predicts that...
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Earned Wage Access Firm wagely Enables In-App Bill Payments
wagely, an Indonesian earned wage access firm, announced that it has enabled a bill payments feature for its users. Employees of wagely’s partners can now top-up Perusahaan Listrik Negara (PLN)...
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How World Bank’s US$ 250m Investment Will Fuel Indonesia’s Digital ID Revolution
The World Bank Group is issuing US$250 million to Indonesia as part of a wide-ranging move to strengthen the country’s digital identity, or ID, systems in what could see sweeping changes to how people...
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Indonesian Fintech Komunal Bags US$8.5M in Fundraise Led by East Ventures
Indonesian fintech firm Komunal announced that it has raised US$ 8.5 million in a funding round led by venture capital firm East Ventures. This funding round is also participated by AlphaTrio...
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Is Islamic Fintech Catching On in Indonesia?
With a burgeoning population and a young, tech-savvy workforce, Indonesia is ripe for fintech growth. In recent years, the country has seen a boom in fintech startups, and the industry is now one of...
View ArticleMUFG and Bank Danamon Sets up US$100 Million Fund for Indonesian Startups
MUFG Innovation Partners (MUIP) and MUFG Bank, subsidiaries of Mitsubishi UFJ Financial Group (MUFG), has set up a US$100 million fund with Bank Danamon Indonesia. The fund named MUFG Innovation...
View ArticleFiat-Crypto Gateway Alchemy Pay Gets Licenses From Bank Indonesia
Fiat-crypto gateway payment provider Alchemy Pay teamed up with fintech firm Berkah Digital Pembayaran to secure licenses for remittance and fund transfer services from Bank Indonesia. Alchemy Pay said...
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Brankas Scores Payment Licenses in the Philippines, Indonesia
Southeast Asian open finance platform Brankas announced that it has received payment licenses from Bank Indonesia (BI) and the Bangko Sentral ng Pilipinas (BSP). The firm managed to secure the Payment...
View ArticleBank Indonesia Now Has 122 Participants for Its Real-Time Payment Scheme BI-FAST
Bank Indonesia (BI) announced that it has onboarded another 16 participants for its domestic real-time payments scheme BI-FAST powered by ACI Worldwide. BI-FAST is accessible through applications or...
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Mizuho Leads Kredivo Holdings’ US$270 Million Series D Fundraise
Kredivo Holdings, the parent company of Kredivo and Krom Bank Indonesia formerly known as FinAccel, announced the close of its US$270 million Series D fundraise led by Japanese global bank Mizuho Bank....
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Indonesian Insurtech Qoala Extends Series B With US$7.5 Million Fundraise
Indonesian insurtech startup Qoala announced the close of it US$ 7.5 million Series B+ funding round led by Switzerland’s responsAbility Investments. Qoala had previously raised US$ 65 million in a...
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Mobee Launches Digital Asset Exchange in Indonesia, Raises Funding
Mobee has launched its new digital asset exchange in Indonesia licensed by BAPPEBTI, Indonesia’s regulatory body for trading digital assets, and raised an undisclosed sum in a funding round led by 1982...
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