Dubai-based crypto trading platform, Fasset, collaborates with Salam Setara Amil Zakat Institution to launch a crypto zakat service in Indonesia. Through this partnership, Fasset users are now able to make religious donations using cryptocurrency, specifically USDT, for the first time.
New Partnership for Crypto Zakat
A Memorandum of Understanding was signed at a press conference held at the regional office in Sudirman, Central Jakarta, marking the commencement of the partnership aimed at promoting blockchain technology in Islamic finance.
Why Indonesia Needs Crypto Zakat
Indonesia, with its majority Muslim population, has significant potential for the adoption of crypto zakat. The country's national zakat agency, Baznas RI, plans to accumulate Rp50 trillion by 2025. The role of zakat is crucial during Ramadan, as Muslims strive to give back to their community.
Goals and Prospects of the Initiative
Fasset's Country Director in Indonesia, Putri Madarina, outlines plans to expand the crypto zakat service globally. The initiative aims to integrate technological innovation into social worship and hopes to serve as a model for digital Islamic financial inclusion. Kitabisa CEO Vikra Ijaz is optimistic that the collaboration will enhance zakat literacy in Indonesia and help reduce poverty through innovative resource management.
The collaboration between Fasset and Kitabisa represents a significant advancement in applying blockchain technology to Islamic finance and offers innovative solutions for digitally integrating religious practices. This project holds potential not only for Indonesia but also for global expansion.
