Tagged: indonesia

NIUM, formerly InstaReM, Expands into Indonesia

The recently-rebranded NIUM, formerly InstaReM, has received the Fund Transfers license from the Bank Indonesia and will now offer cross border digital payments. NIUM’s Indonesian operations will be headed by Vadyo Munaan, who comes with experience in financial services and payments industry at organizations including… Read More

Kapital Boost Receives Regulatory Approval in Indonesia to Provide P2P Crowdfunding for SMEs

Kapital Boost, an Islamic peer-to-peer crowdfunding platform for SMEs, has received regulatory approval from the Indonesian Financial Services Authority (OJK). Kapital Boost described the approval as “validation that its business model and processes are in accordance with Indonesia’s financial services regulatory requirements, which has gotten… Read More

Investment Crowdfunding Platform Ethis Receives 3rd Regulatory Approval, Gains Indonesia Authorization

Ethis has received regulatory approval to operate in Indonesia marking the third market this year where the platform may now provide online capital formation. Ethis received approval to provide peer to peer crowdfunding as authorized by the Financial Services Authority of Indonesia. Prior to this… Read More

There are 249 Fintechs in Indonesia with Peer to Peer Lending and Payments Leading the Way

Indonesia is the is 16th largest economy and the 4th largest by population in the world. Both of these numbers are expected to grow in the coming years. There are around 45 million Indonesians who are considered middle class – a number that is joined… Read More

Report: Southeast Asia’s Growing Internet Economy Is Driving Fintech Adoption

Southeast Asia’s internet and e-commerce economy is growing steadily due to the widespread use of mobile phones. The region’s middle class has also been growing, according to a recent report compiled by Google, Temasek and Bain & Company. Published earlier this month, the e-Conomy SEA… Read More

Indonesia’s State-Owned Pawnshop PT Pegadaian to Invest $35 Million in Local Fintech Firms

The state-owned pawnshop PT Pegadaian in Indonesia is reportedly planning to invest Rp 500 billion (appr. $35.26 million) in several local Fintech firms this year. President director Kuswiyoto noted on September 30 that the investment would go toward funding the operations of five Fintech companies…. Read More

Southeast Asia’s Largest Online Travel Startup Traveloka Is Getting Into Fintech

Traveloka, the largest online travel startup in Southeast Asia, is planning to issue a credit card, called the PayLater card, via a partnership with PT Bank Rakyat Indonesia Persero Tbk, which will be connected to its booking services. Traveloka’s travel app aims to target users… Read More

UNDP Partners With 500 Startups to Invest in Indonesia’s Evolving Startup Ecosystem

United Nations Development Program (UNDP), an organization that provides expert advice, training, and grants to developing countries, is partnering with Silicon Valley venture capital firm and project accelerator 500 Startups, in order to make investments in Indonesia’s emerging startup ecosystem. The UNDP will be working… Read More

Hexindai-Backed Musketeer Completes Registration For P2P Platform With the Indonesian Financial Services Authority

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced last week its invested Indonesian online lending platform, Musketeer Group, Inc. (Musketeer) has completed registration for its peer-to-peer lending platform with the Indonesian Financial Services Authority (OJK). Hexindai notably acquired a 20% equity stake in Musketeer in… Read More

Unicorn GOJEK Receives Investment from Visa

GOJEK, a Southeast Asian unicorn, has received backing from global credit and payments provider Visa. According to a release, Visa participated in GOJEK’s ongoing Series F funding round for an undisclosed amount.  Other investors include Mitsubishi Motors Corporation, Mitsubishi Corporation, and investment from Mitsubishi UFJ… Read More

P2P Lender Validus Capital Announces Expansion Into Indonesia Following $15.2 Million Investment

Singapore based online lender Validus announced this week that following its $15.2 million fundraise the lending platform has formally launched in Indonesia through its domestic business entity, Batumbu, in partnership with Indonesia’s Triputra Group. As previously reported, Validus was launched in 2015 and claims to… Read More

PINTEC-Backed Avatec to Participate in Indonesia’s Digital Financial Innovation Sandbox Program

Pintec Technology Holdings Ltd. (PINTEC; Nasdaq: PT), an independent platform enabling financial services in China, announced on Monday PT. Avatec Services Indonesia (Avatec Indonesia), a wholly-owned subsidiary of Avatec.ai (S) Pte. Ltd (Avatec), has been approved by the Indonesian regulator to be a credit scoring… Read More

Robocash Expands into Islamic Finance with Lending Service in Indonesia

Online lending company Robocash Group has moved into the Islamic finance sector via a partnership in Indonesia with Reliance Finance. Robocash has launched a new Fintech service providing personal financing in full compliance with the Shariah law. Robocash said the new service has been labeled… Read More

SE Asian Fintech Akulaku Set to Acquire Indonesian Lending Bank Yudha Bhakti For Rp 158 Billion

Akulaku, a SE Asia-based fintech, is reportedly set to acquire Indonesian lending bank Yudha Bhakti for Rp 158 Billion ($11 million). Founded in 2016, Akulaku is a fintech company that is focused on providing financial services to the underserved. The company has established offices in five countries/regions,… Read More

Ping An’s Fintech Subsidiary OneConnect Commences Operations in Indonesia

OneConnect, a subsidiary of China’s insurance giant, Ping An, announced on Thursday it has commenced operations in Indonesia to enable local banks and financial institutions to accelerate their efforts in digitization of financial services and move towards a more inclusive financial industry. This news comes just a few months… Read More

Indonesia Requiring Crypto Futures Brokers to Maintain Minimum Deposits of $71.17 Million

Regulators from the Indonesian Commodity Futures Trading Agency, Bappebti, have passed a law requiring individuals and firms brokering cryptocurrency futures products to maintain minimum balances of 1 trillion rupiahs ($71.17 million). According to Reuters, the rule has been implemented, “To encourage trade and protect customers.” The requirement,… Read More

Pundi X Partners With HARA to Bring Blockchain POS Devices to Indonesian Agriculture Industry

Pundi X (CURRENCY: NPXS), an Indonesia-based global developer of blockchain-powered devices, announced on Thursday it has partnered with HARA, an Indonesia-based company that is dedicated to revolutionizing global agriculture with data, to deploy thousands of blockchain-based point of sales (POS) devices to farmers to facilitate data collection… Read More

Ethis Wins Two Awards at Islamic Fintech Awards

Fintech Ethis, via its two online crowdfunding platforms, EthisCrowd and GlobalSadaqah, topped 135 nominees at the recent World Islamic Fintech Awards to win The Best Islamic Peer-to-Peer Finance Platform and The Best Social Impact Islamic Fintech Firm respectively. Ethis states that both platforms were established to cater… Read More

Monetary Authority of Singapore Signs Fintech MOU with Indonesia

The Monetary Authority of Singapore (MAS) and the Financial Services Authority of the Republic of Indonesia, or “Otoritas Jasa Keuangan” (OJK), have signed a memorandum of understanding (MOU) to boost Fintech cooperation and foster innovation in financial services between the two countries. The MOU is… Read More

Tokenomy Exchange Launches with Trading in Four Digital Currencies & 53 Trading Pairs

Christian Hsieh

Singapore based Tokenomy has announced the full launch of Tokenomy Exchange, a cryptocurrency token exchange that is described as addressing the “:challenges associated with launching an ICO.” Tokenomy Exchange now provides a trading platform for four digital currencies; BTC, ETH, USDT and its own TEN Token,… Read More

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