📌 MAROKO133 Update startup: Xendit acquires Payex 🇲🇾, Danantara targets $10B deplo

Dear subscribers,

We’re back in your inbox with a fast, zero-fluff briefing for founders, investors, VCs, and regulators across Indonesia, Southeast Asia, and beyond. This week: Xendit’s Malaysia push, Dunkin’s new operator, Danantara’s $10B deployment plan, TikTok’s license reinstatement, HSBC’s tokenised deposits rollout, and a governance watch on P2P lending—distilled into what matters and why.

Best regards,
The DailySocial Team

What’s New

• Xendit expands into Malaysia 🇲🇾. Indonesia’s leading payment gateway has completed the full acquisition of Payex, a Bank Negara–licensed payment gateway provider, and will rebrand it as Xendit Malaysia. Announced at the Selangor Smart City & Digital Economy Convention 2025, this move follows Xendit’s initial investment in Payex in early 2023. Since entering Malaysia, Xendit has onboarded 4,500+ businesses, processed over MYR 5 billion (~US$1.1 billion) in transactions, and plans to expand its local team, partnerships, and education initiatives. The new entity will be led by Jayson Poon, former central bank official. [Read More]

• Dunkin’ Donuts Indonesia enters new era 🍩. F&B local startup, DailyCo, through its subsidiary PT Diamonds Donuts Internasional (DDI), has officially taken over the master franchise license of Dunkin’ Donuts Indonesia from PT Dunkindo Lestari, effective October 7, 2025. The first new outlet is planned for Jakarta in Q4 2025, followed by gradual expansion through both flagship and neighborhood cafés. The move marks Dunkin’s major comeback in Indonesia’s growing bakery (US$50B+, 9.4% CAGR 2025–2029) and coffee (7% annual growth through 2031) markets. [Read More]

• Danantara to deploy $10B investments in 3 months 💰. Indonesia’s sovereign investment body, Danantara, aims to channel US$10 billion by January 2026, with 80% focused domestically. Current investments include projects in Saudi Arabia, renewable energy, and waste-to-power. CIO Pandu Sjahrir highlighted Indonesia’s mix of high yield and stability supported by low inflation and a young population. Danantara also aims to boost local capital market liquidity—currently around US$1B in daily turnover—far below India’s US$10–11B. [Read More]

• TikTok back in business 🎥. Indonesia has lifted TikTok’s license suspension after the company provided aggregated operational data requested by the government, including livestream, monetization, and web traffic activity. The suspension, imposed on October 3, followed incomplete compliance during unrest linked to a delivery driver’s death. With over 100 million users, TikTok’s return underscores its reliance on Indonesia as its largest Southeast Asian market, amid ongoing debates over data transparency and user trust. [Read More]

What’s Exciting

1️⃣ HSBC tokenizes deposits in Singapore 🪙. HSBC has expanded its Tokenised Deposit Service (TDS) to Singapore after launching in Hong Kong. The service allows instant 24/7 settlement using DLT-based digital tokens representing fiat deposits. Ant International became the first client to complete SGD and USD transactions across HSBC Singapore and Hong Kong, highlighting TDS’s potential in liquidity and FX management. The bank plans further rollouts in the UK and Luxembourg, positioning Singapore as a global treasury hub.

2️⃣ SBI Holdings joins Amar Bank 🇯🇵🇮🇩. Japan’s SBI Holdings has acquired over 5% stake in Amar Bank, becoming its third-largest institutional investor after Tolaram and Jagat Raya Imajinasi. Amar Bank CEO Vishal Tulsian said the partnership will enable synergy with SBI’s vast ecosystem, furthering Amar’s mission to transform retail and MSME banking in Indonesia.

What’s Next: Strengthening Fintech Governance Before the Snowball Effect Hits ⚖️

Indonesia’s fintech lending industry continues its rapid climb — outstanding loans reached Rp 87.61 trillion as of August 2025, up 21.6% YoY, according to the Financial Services Authority (OJK). Despite a relatively low 2.6% delinquency rate, the surge signals growing systemic risk if governance gaps persist.

Several players still fall short of the minimum capital requirements (Rp 12.5B for P2P platforms; Rp 100B for multifinance firms). OJK is urging recapitalization or new investor entry to prevent potential liquidity shocks. The Dana Syariah case — where lenders faced withdrawal delays despite a 99.82% repayment rate — underscores how weak governance can erode investor trust.

OJK has intensified enforcement, issuing hundreds of administrative sanctions in August 2025 and coordinating with law enforcement to uphold compliance and solvency standards.

With fintech lending expanding fast, stronger governance and risk management are urgently needed. If capital adequacy, transparency, and compliance issues are left unchecked, isolated incidents could escalate into a systemic crisis. As Dana Syariah’s case shows, trust is fragile and rebuilding it starts with firm, proactive regulation.

🔗 Sumber: dailysocial.id

📌 MAROKO133 Hot startup: Mamame goes global 🌍, ABC Impact backs green capital ♻️,

Dear subscriber,

This week highlights how Indonesia’s innovation story continues to evolve across sectors. Snack brand Mamame Whole Foods is taking Indonesian tempeh to global markets with backing from Granite Asia, while ABC Impact, DBS, and UOB are reimagining sustainable finance through an impact-linked fund model. In logistics, J&T Express’s regional growth reinforces Southeast Asia’s e-commerce momentum. The rollout of the Indonesia Game Rating System (IGRS) also marks a step forward in digital policy. The latest Tracxn report signals a maturing fintech landscape in Southeast Asia, where funding growth is slowing but shifting toward more sustainable.

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Best regards,
The DailySocial Team

What’s New

• The Indonesian snack startup Mamame Whole Foods has secured a US$2 million investment led by Granite Asia to accelerate its plant-based tempeh chip business, targeting expansion into the US and UK markets. By re-imagining Indonesia’s staple tempeh using black-eyed peas instead of soy and focusing on health-conscious consumers, Mamame taps into both local culinary heritage and global plant-based snack trends. With Granite Asia’s backing, the brand is well-positioned to raise Indonesia’s snack exports profile and spotlight the country’s potential in the healthy-snacks segment.

• The impact investment firm ABC Impact (backed by Temasek) has partnered with banks DBS and UOB to launch a US$110 million sustainability-linked subscription loan facility for its Fund II, tying capital deployment to measurable social and environmental KPIs across Asia. The structure flips the conventional subscription loan model by embedding sustainability performance triggers, signalling growing sophistication in impact-finance in Southeast Asia. For Indonesia, this offers a precedent for channeling growth-capital into businesses that deliver both financial and social returns, aligning with domestic agendas around green growth and inclusive development.

What’s Exciting

• Bank Indonesia’s Global Cooperation Push
  At the IMF–World Bank Annual Meetings 2025, Bank Indonesia emphasized that strengthening multilateral cooperation is key to sustaining global growth amid tight monetary conditions and shifting geopolitics. The central bank reiterated its commitment to macroeconomic stability, policy credibility, and inclusive growth, while supporting investment and trade across developing economies. Indonesia highlighted its role in driving regional financial resilience through collaboration and innovation in sustainable finance.

• J&T Express rides e-commerce boom, strengthens Indonesia’s logistics edge

  J&T Express recorded an impressive 23.1% year-on-year growth in parcel volume for Q3 2025, propelled by a 78.7% surge in Southeast Asia and 47.9% growth in new international markets. The strong performance reflects the sustained momentum of e-commerce and cross-border trade across the region. As demand for faster, more efficient parcel delivery continues to rise, the market presents expanding opportunities for ecosystem players, from warehousing and fulfillment to last-mile technology. In this regional growth cycle, Indonesia remains a key node, both as a major consumer hub and a logistics innovation base shaping the next wave of digital commerce efficiency.

• Indonesia’s Gaming Industry on the Global Stage

  Indonesia’s gaming ecosystem continues to gain global recognition, driven by initiatives from the Ministry of Communication and Digital (Komdigi). Locally developed games are entering international markets, supported by a stronger regulatory foundation through the launch of the Indonesia Game Rating System (IGRS) at IGDX 2025 in Bali. The event recorded a business potential of around $75 million, underscoring Indonesia’s rising status in the creative digital economy. By aligning ethical standards, data protection, and innovation, the government aims to make Indonesia not just a market for games, but a creator and leader in the global gaming industry.

• AI Adoption in Banking Faces Security Hurdles
  A recent HSBC survey revealed that while banks across Indonesia are increasingly aware of AI’s potential to streamline operations and improve services, adoption remains slow due to cybersecurity concerns. Many financial institutions see AI as transformative for customer experience and fraud detection but remain cautious about data protection and hacker risks. The findings highlight the industry’s need for stronger governance, secure infrastructure, and clearer regulatory frameworks to fully unlock AI’s benefits. This cautious optimism mirrors Indonesia’s broader digital transformation—progressive, yet mindful of the balance between innovation and trust.

Whats Next

Despite a funding winter that has chilled the broader Southeast Asian fintech scene, Indonesia remains a market brimming with structural opportunity. According to Tracxn’s 9M 2025 report, fintech startups across the region collectively raised US$839 million, marking a 39% year-on-year decline. More tellingly, early-stage rounds contracted by about 63%, reflecting investor caution amid rising capital costs and tighter global liquidity. While Singapore commanded 84% of total funding, Indonesia captured only 4%, signaling both a slowdown and a gap between ecosystem maturity levels.