This announcement follows Fasset’s $22 million Series A closing first reported in April.

Fasset and Mastercard will co-develop solutions to support and expand financial and digital capabilities across the country. As part of this, Mastercard will leverage its domestic and global insights to drive local adoption of new technologies that can improve access to critical financial services. Moreover, Fasset’s technological capabilities will help digitalize banking services for everyone.

“The world is changing at an unprecedented rate. With more people relying on digital assets and technologies to become resilient, there is a need for key players in the public and private sectors to come together to create solutions that can lead to new opportunities and solutions for wider financial inclusion. Mastercard is delighted to provide its solutions in digital payments and cyber-security for Fasset to support Indonesia’s efforts in financial inclusion and advance broader access to digital technologies”, said Navin Jain, Country Manager, Indonesia, Mastercard.

Fasset is focused on promoting "financial inclusion and democratizing access to opportunity by enabling a new wave of digital asset owners in our target emerging markets", said Hendra Suryakusuma, Country Director, Indonesia, Fasset. "Asset ownership is the strongest way to power healthy livelihoods and economies. Digital asset-driven remittance corridors can unleash a new wave of socioeconomic prosperity through unique product offerings that we’re diligently building,” said Mr. Suryakusuma.

Fasset is investing in growing its digital products, developing training and education platforms to onboard the underserved segment to the formal economy. By working with Mastercard, Fasset will provide easy access to financial and digital tools that will help close the digital divide and improve the livelihood for communities.