NEW YORK, NY — July 13, 2026 — MSTRpay AB (“MSTRpay”) today announced the signing of a Memorandum of Understanding (“MOU”) with KSPPS BMT Mandiri Artha Sejahtera (BMT MAS), a licensed Indonesian Sharia Savings, Loan and Financing Cooperative (KSPPS). The agreement marks MSTRpay’s strategic entry into Indonesia, the world’s largest Muslim-majority nation and one of Southeast Asia’s fastest-growing digital economies.
KSPPS BMT Mandiri Artha Sejahtera (BMT MAS) is a licensed Indonesian Sharia Savings, Loan and Financing Cooperative (KSPPS), established in 2013 and headquartered in Bekasi, Indonesia. Operating under Islamic cooperative principles, BMT MAS provides savings, financing and financial services while promoting community development, financial inclusion and digital transformation.
The MOU establishes a framework for long-term cooperation and launches a 180-day joint Evaluation and Validation Programme under MSTRpay’s Strategic Market Access Partnership (SMAP™) Framework.
During this period, the Parties will jointly evaluate opportunities to deploy digital financial services, wallet infrastructure, merchant ecosystems, behavioural scoring, financial inclusion programmes, Cash In/Cash Out services and future financing solutions tailored to the Indonesian market.
With a population of more than 280 million, Indonesia offers one of the world’s largest Islamic finance ecosystems. BMT MAS combines cooperative principles with Sharia finance and community-based financial inclusion, while demonstrating consistent financial growth, strong governance and a clear commitment to digital transformation, making it a highly complementary partner for MSTRpay’s long-term strategy.
A key strength of the partnership is the leadership of Mr. Abdy Irawan, Managing Director of BMT MAS. With more than 30 years of experience in Indonesia’s cooperative and banking sectors, including his previous role as Director of the Indonesian Sharia Cooperative Association (INKOSINA), where he supported approximately 50 Islamic cooperatives, Mr. Abdy brings extensive expertise in cooperative governance, institutional development and digital transformation that closely aligns with MSTRpay’s long-term vision.
The partnership reflects MSTRpay’s strategy of collaborating with wellgoverned, regulated financial institutions committed to financial inclusion, digital innovation and sustainable growth.
The agreement was developed through MSTRpay’s Emerging Markets organisation under the SMAP™ Framework. The process was led by Peter Rinaldo, Head of Business Development – Emerging Markets, together with Mr. Azhar Zulkifli, Regional Representative for Asia, who coordinated the due diligence, partner evaluation and negotiations leading to the successful execution of the MOU.
“Indonesia represents one of the most significant strategic opportunities within our international expansion programme,” said Dean Petkanas, Chief Executive Officer of MSTRpay AB. “BMT MAS combines strong governance, experienced leadership and a clear digital transformation strategy with deep roots in Indonesia’s cooperative movement. We look forward to working closely with Mr. Abdy and his team during the Evaluation Programme to explore how MSTRpay’s ecosystem can strengthen financial inclusion and create long-term value for both organisations and the communities they serve.”
The agreement represents MSTRpay’s first Strategic Market Access Partnership (SMAP™) in Indonesia and establishes a foundation for future collaboration across the country’s cooperative and Islamic finance sectors. It also strengthens MSTRpay’s expanding international pipeline, which now spans strategic partnerships and market development initiatives across Africa, Asia and other emerging markets.
As MSTRpay continues to execute its Global Expansion System™, Indonesia is expected to become one of the Company’s most strategically important markets in Southeast Asia and a gateway for future partnerships across the ASEAN cooperative and Islamic finance ecosystem.
Media Contact
MSTRpay AB
Peter Rinaldo
Head of Business Development – Emerging Markets
peter.rinaldo@mstrpay.com
www.mstrpay.com
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