Mastercard partners with crypto gateway provider Fasset to co-develop digital solutions that can drive adoption in Indonesia. Mastercard will collaborate with Fasset, a cryptocurrency gateway provider, to develop digital solutions to increase cryptocurrency adoption in Indonesia. With this project, the global payments company aims to increase access to financial services for the citizens of the Southeast Asian country.

Prior to this project, Mastercard collaborated with Brazil-based fintech company Mercado Libre to strengthen the security and transparency of new cryptocurrency programs. Mastercard also supports platforms that allow investors to buy NFTs without using cryptocurrencies, as part of its work towards the crypto industry.

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Fasset, the company that Mastercard will work with in this project, continues its activities in the UK in 2019. Since its inception, the company has been mediating the exchange between fiat currencies and crypto assets based on Ethereum. Fasset works with a focus on developing countries.

In addition to expanding its activities with the support of Mastercard, the crypto company announced that it will also develop an education platform so that people with limited financial access can use the sector efficiently.

Fasset claims that the project to be implemented in Indonesia could have extremely important results. It is believed that the successful establishment of the cryptocurrency ecosystem in developing countries such as Indonesia will serve as a benchmark for other countries.

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Fasset recently obtained a fund of 22 million dollars in the investment tour realized in April. In addition, the company received a license to operate in Malaysia.

According to the survey studies, 41 percent of Indonesian citizens are willing to use cryptocurrencies. On the other hand, it is known that 66 percent of its citizens do not have a bank account in the country with a population of 275 million as of 2021. This situation causes financial companies to see the country as an ideal market.