Indonesia
Indonesian Open API Platform Ayoconnect Raises US$15 Million Series B
Indonesian open finance platform Ayoconnect announced that it has closed a US$15 million series B financing round led by Tiger Global. The round was joined by PayU, the payments and fintech business of Prosus, and Alto Partners, as well as
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ForgeRock Expands Cloud Services to Indonesia and Hong Kong
ForgeRock, an identity and access management software company, announced its continued expansion across Asia and has made ForgeRock Identity Cloud available locally from two new data centers in Indonesia and Hong Kong. This expands ForgeRock’s Identity cloud into 17 regions
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Indonesia’s OJK Bans Financial Institutions From Facilitating Crypto Trading
The Financial Services Authority of Indonesia (OJK) has strictly prohibited financial institutions from marketing or facilitating the trading of crypto assets. The regulator warned that the value of crypto assets are subject to market fluctuations and investors should be mindful
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Bank Indonesia Launches Its First Real-Time Payments Infrastructure With ACI Worldwide
Bank Indonesia (BI), the country’s central bank, has launched its first real-time payments infrastructure BI-FAST that is driven by ACI Worldwide, a global provider of real-time payments and digital payment solutions. BI-FAST is an integral part of Indonesia’s ongoing digital
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Bank Indonesia and MAS Deepen Ties to Promote Payments Innovation
Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) has signed a Memorandum of Understanding (MOU) to strengthen bilateral cooperation and deepen ties. The MOU reflects Indonesia and Singapore’s joint interest to promote collaboration on projects in relation to
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Building Indonesia’s Economic Foundation Through Digitising MSMEs
Indonesia has more than 65 million Micro, Small, and Medium Enterprises (MSMEs). This huge number of enterprises has made the MSME sector one of the most important pillars of the Indonesian economy. 13.7 million of those MSMEs have utilised digital
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Indonesian Investment App Pluang Bags Additional US$55 Million
Pluang, an Indonesian all-in-one fractional investing app, announced that it has raised US$55 million in a funding round led by venture capital firm Accel. This is a follow-on round to its previously announced Series B, pushing its total investment to
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Indonesia’s SME-Focused Neobank KoinWorks Raises US$108 Million Series C
KoinWorks, an Indonesian neobank focused on small and medium-sized enterprises (SMEs), has secures US$108 million in a Series C funding round which consists of US$43 million in equity and US$65 million in debt capital. The round was led by MDI
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Binance and Telkom Indonesia’s MDI to Develop a Local Digital Asset Exchange
Crypto exchange platform Binance has established a joint venture with a consortium led by MDI Ventures to develop a new Indonesian-based digital asset exchange. MDI is a US$830+ million multi-stage venture capital arm of Indonesia’s largest telecoms company, Telkom Indonesia.
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UOB Indonesia Launches E-Commerce BNPL Service “TMRW Pay”
UOB’s mobile-only banking solution TMRW announced the launch of TMRW Pay, an e-commerce loan that enables consumers in Indonesia to manage their budgeting needs. TMRW Pay offers consumers deferred payment services, with zero interest for up to 90 days and instant
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