Card network giant Mastercard has partnered with crypto gateway provider Fasset to collaborate on crypto digital solutions with aims to build an ecosystem within Indonesia.
Mastercard and Fasset will work to develop financial inclusion methods in the country to extend opportunities and potential growth for the economy.
Hendra Suryakusuma, an executive at Fasset, spoke to Cointelegraph on the gap the crypto firm is aiming to bridge by applying better access to digital financial services across the region.
He said: “Our partnership seeks to lower the barriers to digital finance and drive greater opportunities to benefit from the use of emerging financial services.
“The implications on the industry are a greater legitimisation of crypto assets, their use cases, and areas of applications.”
The Fasset exec also believes that crypto adoption in countries such as Indonesia will help bring about a ‘significant impact’ on the crypto ecosystem within the country, citing other countries as examples of the acceleration and progress crypto adoption has made.
Expanding its interest of digital assets into Indonesia isn’t Mastercards first foray into the sector, having recently assisted Brazilian fintech Mercado Libre in its efforts to ‘strengthen the security and transparency’ of new cryptocurrency programs.
The card network also opened up to a network for NFTs, partnering with Non-Fungible marketplaces which enables its card users to purchase the digital asset directly from their cards without the use of purchasing any form of cryptocurrency.
During the announcement of its collaboration with Mercado Libre, Ajay Bhalla, President of Cyber & Intelligence at Mastercard, added: “The potential for cryptocurrencies to change our everyday experiences is massive.”
