Singapore-based D3 Labs has partnered with the Indonesian Blockchain Association in Project Garuda’s digital rupiah. Separately, Dubai-based Fasset has launched their digital asset’s super-app in Indonesia, Pakistan, and Turkiye.
D3 Labs joins Bank Indonesia’s Project Garuda
Singapore-based D3 Labs has partnered with the Indonesia Blockchain Association to support the first phase of digital rupiah, a project initiated by Bank Indonesia.
Project Garuda aims to use blockchain to create a digital version of the Indonesian currency. The white paper on digital rupiah was published in November 2022.
Established in September 2022, D3 Labs specialises in programmable money infrastructure solutions, assisting enterprises in integrating such features into their financial systems. Programmable money is a form of digital currency that includes built-in rules, offering increased flexibility in its applications.
In April this year, D3 Labs secured an undisclosed pre-seed funding from Saison Capital, Kinesys Capital, Arkana Capital, EX Capital, Qredo, and DS/X Ventures to support its MVP (minimum viable product) initiative.
Fasset launches super-app in Indonesia, Pak, Turkey
Fasset, a Dubai-based digital asset company, has launched its super-app to enable people in emerging markets (Pakistan, Turkey, and Pakistan) to invest in digital assets. It has secured over 1 million sign-ups in the first week of launch, according to an announcement on Monday.
Fasset’s super-app gives customers access to thematic bundles consisting of a variety of digital assets to make it easier to invest and build long-term wealth. Aside from assets, Fasset’s super-app will soon enable services such as remittance, lending, and borrowing.
In Indonesia, Fasset has secured a crypto trading asset trading licence from the regulator. It also partnered with Mastercard Indonesia to facilitate digital assets for 80 million people across the country. Fasset’s latest agreement is with Indosat Ooredoo Hutchison.
Founded in 2019, Fasset raised $22 million in Series A funding by Pakistan’s Fatima Gobi Ventures and New York-based Liberty City Ventures. The funding was used to support their expansion in Pakistan and Indonesia.