Indonesian digital wallet provider Manulife Aset Manajemen Indonesia (MAMI) and its partner Bareksa in order to introduce an instant redemption mutual fund. OVO stated that the new offering is the first of its kind in the Southeast Asian country. The money market mutual fund product is being offered via the OVO mobile app as part of its OVO Invest feature from IDR 10,000 (appr. $0.71) onwards. OVO confirmed that the product also offers instant redemption. With this new product launch, OVO plans to improve the micro-investment space in Indonesia and make investing more accessible and lucrative to new or first-time investors. In 2019, there were just 1.7% of Indonesians that took part in the financial market according to data provided by the Financial Services Authority (Otoritas Jasa Keuangan). Entry barriers to investing might include lack of access to good investment opportunities, high capital entry requirements, payment issues and the relative illiquidity of the invested capital.