Press release: Indonesia Takes First Steps Towards a Digital Fiat Currency Solution with eCurrency
eCurrency Mint Limited (eCurrency) announced today that it has partnered with PayPro Indonesia to provide eCurrency’s digital fiat currency (DFC) solution in Indonesia. This partnership is a major step for PayPro, leading Indonesia in delivering a high-security universal digital payment instrument. Through eCurrency’s solution, PayPro’s e-money product delivers a cryptographically protected, secure instrument that ensures no data manipulation, increasing security and trust for the consumers.
The digital fiat currency solution initiative is to be part of Indonesia’s FinTech regulatory sandbox designed to promote and facilitate financial technology innovation in the country. While multiple mobile money solutions exist in Indonesia, the lack of interoperability and challenges to regulate them have hindered the adoption and development of digital financial services and true financial inclusion for all Indonesians. The eCurrency solution overcomes these challenges.
Photo courtesy of Institute for Money, Technology and Financial Inclusion.