Fasset Plans to Launch Crypto Zakat Program in Indonesia by 2025

Jakarta (ANTARA) – Fasset, a Dubai-based platform specializing in Sharia-compliant cryptocurrency assets, has announced plans to introduce a crypto zakat program in Indonesia by 2025. This initiative aims to facilitate the payment of zakat through cryptocurrencies. The company’s CEO, Mohammad Raafi Hossain, shared this information during a statement in Jakarta on Thursday.

Exploring Partnerships

Fasset is currently exploring a partnership with a local zakat management institution in Indonesia to bring this plan to fruition. Raafi emphasized the importance of ensuring that all steps taken align with the regulatory framework in Indonesia. “While we are excited about this development, we must also guarantee compliance with local regulations,” he noted.

Commitment to Growth in Indonesia

The company expressed its commitment to supporting the burgeoning cryptocurrency market in Indonesia, which is experiencing rapid growth. Raafi highlighted Indonesia’s significance as a focal point for Fasset’s expansion efforts due to its large Muslim population and the rising interest in Sharia-based investment opportunities. “We are looking at Indonesia not only because of the rapid development of its cryptocurrency market, but also due to its position as one of the countries with the largest Muslim population in the world,” he said.

Impressive Market Statistics

According to a report from the Commodity Futures Trading Regulatory Agency (Bappebti), the value of cryptocurrency transactions in Indonesia reached IDR 556.53 trillion from January to November 2024. This figure represents a staggering increase of 356.16% compared to the same period in the previous year, when it was recorded at IDR 122 trillion. By November 2024, the number of cryptocurrency users in Indonesia had grown to 22.1 million.

Fostering Education and Collaboration

Beyond its focus on Sharia-compliant cryptocurrency investments, Fasset is also committed to educating the public about blockchain technology and its benefits. The company plans to enhance collaborations with various stakeholders, including government bodies, communities, and financial institutions, to promote a healthy and transparent cryptocurrency ecosystem in Indonesia. ‘Through this approach, we aim to be pioneers in creating inclusive Sharia-based investment solutions while positively influencing the growth of the digital economy in Indonesia,” Raafi added.

Conclusion

As Fasset prepares to integrate cryptocurrency into traditional Islamic practices such as zakat, it signifies a broader trend of adapting modern financial tools in a way that aligns with cultural and religious practices, potentially paving the way for a new era of financial inclusion and innovation in Indonesia.

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Reporter: Subagyo

Editor: Budisantoso Budiman

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