CoinWorks Collaborates With EFishery To Help With Fish Cultivation Capital

JAKARTA - CoinWorks, a neobank for MSMEs in Indonesia in collaboration with technology companies aquatic eFishery to provide financial assistance to fish cultivators.

The collaboration will allow fish cultivators to get the much-needed funding for their business operations.

Through the Kasih program, Pay Later (Kabayan), the collaboration will allow fish cultivators to get the much-needed funding for their business operations.

This is done in commemoration of the Month of Financial Inclusion which strengthens the urgency of financial inclusion for all levels of society.

"Our partnership with eFishery is a strategic step to expand our services this year to the specific MSME sector, namely acculturing with great potential," said CoinWorks CEO and Co-Founder Benedicto Haryono in a written statement received by VOI, Tuesday, October 31.

CoinPaylater as a buy now pay later CoinWorks service has played an important role in providing financial support to micro business actors throughout Indonesia. Coin Paylater growth itself has reached 10 times this September, starting from January 2023.

CoinWorks also actively improves the financial literacy of its users through webinars and community activities.

With eFishery, CoinPaylater will facilitate loans to fishery MSMEs through Kabayan loan products with quick approval for a limit of up to IDR 200 million. These funds are used to support production from fish breeding to harvest.

Meanwhile, EFishery CFO Dhianendra Laksmana said that CoinWorks has the same mission as eFishery, which is the speed of financial services to help fish cultivators MSMEs in Indonesia.

"Currently, we are also preparing Kabayan Lite, the latest loan program for accultural business actors in the micro segmentation," he said.

He hopes that the financing generated through the CoinWorks platform can increase business growth and prosper fish cultivators in Indonesia.

Sabroni, a fish cultivator from Cirebon, admitted that he had received funding support through Kabayan. "The result has an impact on increasing income," he said.

Meanwhile, based on the latest data, Indonesia's fisheries currently contributes nearly 30 billion US dollars to the country's GDP or almost close to 3 percent of the country's overall GDP.

Indonesia is also the second largest contributor to freshwater fish which produces about 30 percent or a third of the world's total freshwater fish market.