Xendit acquires Payex đ˛đž, Danantara targets $10B deploymentđ°, Fintech governance faces wake-up call âď¸
Dear subscribers,
Weâre back in your inbox with a fast, zero-fluff briefing for founders, investors, VCs, and regulators across Indonesia, Southeast Asia, and beyond. This week: Xenditâs Malaysia push, Dunkinâs new operator, Danantaraâs $10B deployment plan, TikTokâs license reinstatement, HSBCâs tokenised deposits rollout, and a governance watch on P2P lendingâdistilled into what matters and why.
Best regards,
The DailySocial Team
Whatâs New
Xendit expands into Malaysia đ˛đž. Indonesiaâs leading payment gateway has completed the full acquisition of Payex, a Bank Negaraâlicensed payment gateway provider, and will rebrand it as Xendit Malaysia. Announced at the Selangor Smart City & Digital Economy Convention 2025, this move follows Xenditâs 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]
Dunkinâ Donuts Indonesia enters new era đŠ. F&B local startup, DailyCo, through its subsidiary PT Diamonds Donuts Internasional (DDI), has officially taken over the master franchise license of Dunkinâ 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 cafĂŠs. The move marks Dunkinâs major comeback in Indonesiaâs growing bakery (US$50B+, 9.4% CAGR 2025â2029) and coffee (7% annual growth through 2031) markets. [Read More]
Danantara to deploy $10B investments in 3 months đ°. Indonesiaâs 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 Indonesiaâs mix of high yield and stability supported by low inflation and a young population. Danantara also aims to boost local capital market liquidityâcurrently around US$1B in daily turnoverâfar below Indiaâs US$10â11B. [Read More]
TikTok back in business đĽ. Indonesia has lifted TikTokâs 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 driverâs death. With over 100 million users, TikTokâs return underscores its reliance on Indonesia as its largest Southeast Asian market, amid ongoing debates over data transparency and user trust. [Read More]
Whatâs Exciting
1ď¸âŁ HSBC tokenizes deposits in Singapore đŞ. 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 TDSâs potential in liquidity and FX management. The bank plans further rollouts in the UK and Luxembourg, positioning Singapore as a global treasury hub.
2ď¸âŁ SBI Holdings joins Amar Bank đŻđľđŽđŠ. Japanâs 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 SBIâs vast ecosystem, furthering Amarâs mission to transform retail and MSME banking in Indonesia.
Whatâs Next: Strengthening Fintech Governance Before the Snowball Effect Hits âď¸
Indonesiaâs fintech lending industry continues its rapid climb â 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 â where lenders faced withdrawal delays despite a 99.82% repayment rate â 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 Syariahâs case shows, trust is fragile and rebuilding it starts with firm, proactive regulation.