The potential of fintech to level the playing field for SMEs and the unbanked in Southeast Asia is immense.
The deals bring together Kartuku, Indonesia’s largest offline payments-processing company; Midtrans, the nation’s top online-payment gateway; and Mapan, a local community-based saving and lending network.
The cities’ central banks have signed a fintech cooperation agreement that will foster collaboration on business referrals, joint innovation projects, information sharing and the exchange of expertise.
Access Chairman Anson Zeall said his organisation had heard from 10 companies which had encountered problems with their banking relationships in Singapore.
China accounts for about 23 percent of bitcoin trades and is also home to many of the world’s biggest bitcoin miners, who confirm transactions in the digital currency.