The statement was made by Indonesian Ambassador to Switzerland and Liechtenstein Muliaman Hadad during a visit to the Crypto Valley Association (CVA) in Zug, Switzerland, Sansanti Nordewati of the Indonesian Embassy (KBRI) in Bern informed Antara here on Thursday.
The ambassador highlighted fintech developments in Indonesia while addressing CVA officials. He noted that if combined with the Swiss population of eight million, the internet network in Indonesia will connect 142 million people.
With this projection, fintech transactions will reach US$22 billion in 2018, with an annual growth of 16.3 percent.
Thus, the likelihood to cooperate in the fintech sector in Indonesia is still wide open.
The CVA is an association of hundreds of fintech companies in Switzerland that aims to build the world`s leading blockchain and cryptographic technology ecosystem.
The CVA actively supports and connects startups through joint research, policy recommendations, conferences, hackathons, and other industry events linking blockchain innovation centers in London, Singapore, Silicon Valley California and New York.
Ambassador Muliaman also elaborated on the fintech policy support in Indonesia as regulated by Bank Indonesia, Financial Services Authority (OJK), and Ministry of Communications and Information Technology, such as OJK`s peer-to-peer lending fintech and launch of the National Payment Gateway by BI online transactions for the public in Indonesia.
Meanwhile, CVA International Director S?ren Lemvig Fog, who has a wide business network in developing countries, stated that Indonesia clearly cannot be underestimated.
"Just look at Indonesia. There are four startup unicorn companies Gojek, Traveloka, Tokopedia, and Bukalapak," Fog noted.
Unicorn is a startup company, with assets over $1 billion.
Ambassador Muliaman Hadad`s visit to CVA in the framework of organizing the fact-finding mission in the fintech field will be held by KBRI Bern-Swiss in October. Fact-finding missions will be followed by Indonesian fintech companies to meet and explore business cooperation with potential partners, innovation development agencies, and financial services authorities in Switzerland.
Ian Simpson added that the CVA is ready to welcome potential partners from Indonesia in October.
"The extraordinary potential of Indonesia and Switzerland is expected to produce something big and mutually beneficial," the CVA communications director noted. *
ReportIng by Zeynita Gibbons
Editing by Andi Abdussalam
Reporter: Antara
Editor: Otniel Tamindael
Copyright © ANTARA 2018
