Newsletter
Crypto Gist
Advertisement
  • Home
  • Crypto News
  • Crypto Reviews
  • Crypto Quotes
  • Price Analysis
  • The Market
  • Press Release
  • Videos
No Result
View All Result
  • Home
  • Crypto News
  • Crypto Reviews
  • Crypto Quotes
  • Price Analysis
  • The Market
  • Press Release
  • Videos
No Result
View All Result
Crypto Gist
No Result
View All Result
Home Crypto News

Ripple Helping UAE Exchange and Unimoni to Launch Cross-Border Payments to Thailand

Crypto Gist by Crypto Gist
February 11, 2019
in Crypto News
0
Ripple Helping UAE Exchange and Unimoni to Launch Cross-Border Payments to Thailand
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

On Sunday (February 10th), Finablr, the UAE-based parent company of two international remittance firms, UAE Exchange and Unimoni, announced that these two companies have joined Ripple’s global payment network, RippleNet, and will be using Ripple’s technology for cross-border payments (starting with Thailand).

The payments and foreign exchange company’s network of brands, such as the two mentioned above, processed “150 million transactions” in 2017, and “managed close to $100 billion in volumes for its customers.” Finablr is “licensed to operate in 44 countries and regulated by 95 regulators.” 

Related articles

Indonesia Officially Recognizes Bitcoin as a Commodity

Indonesia Officially Recognizes Bitcoin as a Commodity

February 15, 2019
Bitcoin (BTC) Price Analysis – February 15

Bitcoin (BTC) Price Analysis – February 15

February 15, 2019

According to an article in the UAE-based news outlet The National:

“Asia is one of the major recipients of remittances from expat workers in the Middle East, where Finablr is based. Remittance flows to South Asia grew 13.5 per cent last year, according to the World Bank. It estimates that officially recorded remittances to developing countries have increased by 10.8 per cent to reach $528 billion (Dh1.939 trillion) in 2018. Global remittances, which include flows to high-income countries, are projected to have grown by 10.3 per cent to $689bn.”

Finablr says that UAE Exchange and Unimoni are already on RippleNet, and that they will “use the blockchain-based platform provided by Ripple for real-time, seamless cross-border transactions to Thailand, with plans in place to extend it to other countries.” Furthermore, it believes that this means that “UAE Exchange and Unimoni become the first in their category in the Middle East to have adopted blockchain technology to process transactions.”

The first country to benefit from this partnership with Ripple is Thailand, “with Siam Commercial Bank, one of the largest banks in Thailand, enabling UAE Exchange and Unimoni customers around the world to transfer money instantly to their beneficiaries in Thailand.”

Promoth Manghat, Executive Director and CEO at Finablr and Group CEO at UAE Exchange and Unimoni, said: 

“The adoption of blockchain opens up considerable potential to streamline remittances and provide a frictionless, fast and secure payments experience. The launch of this service is a significant milestone for us in our commitment to enable seamless services for our customers, and we thank our partners Ripple and Siam Commercial Bank for their collaborative support in this journey.”

Meanwhile, Navin Gupta, Managing Director, South Asia and MENA at Ripple, had this to stay:

“We are excited to see this collaboration go live, allowing customers in any part of the world to send live payments to Thailand instantly and efficiently. In pursuit of our shared goal to provide a frictionless experience when moving money globally, we will continue to support our partners – UAE Exchange and Unimoni – in their efforts to deliver innovative technology-led financial solutions.”

Finally, Dechapol Lamwilai, FSVP, Head of Disruptive Technology Office, Siam Commercial Bank, stated: 

“We are delighted to be a part of the UAE Exchange and Unimoni journey in leading frictionless cross-border transfer experiences in the new digital era. As strategic partners, we look forward to working closely together to provide best-in-class payments solutions that bring added value and convenience to customers sending money into Southeast Asia.”

Featured Image Courtesy of Finablr

Courtesy: cryptoglobe.com

Share76Tweet47

Related Posts

Indonesia Officially Recognizes Bitcoin as a Commodity

Indonesia Officially Recognizes Bitcoin as a Commodity

by Crypto Gist
February 15, 2019
0

Regulators in Indonesia have finally recognized Bitcoin and other cryptocurrencies as commodities, thus providing legal backing for trading virtual currencies....

Bitcoin (BTC) Price Analysis – February 15

Bitcoin (BTC) Price Analysis – February 15

by Crypto Gist
February 15, 2019
0

Bitcoin Chart By Trading View BTCUSD Medium-term Trend: Bullish Resistance levels: $7,000, $7,200, $7,400 Support levels: $3,500, $3,300, $3,100 The...

High Cost Slows Down Bitcoin ATM Growth in Africa

by Crypto Gist
February 15, 2019
0

There are more than 4,000 bitcoin automated teller machines (ATMs) in the world, but only just about 10 (or 0.2...

QuadrigaCX Runs out of Funds as Lawyers Pitch to Represent Its Creditors

QuadrigaCX Runs out of Funds as Lawyers Pitch to Represent Its Creditors

by Crypto Gist
February 15, 2019
0

A lawyer representing the embattled cryptocurrency exchange QuadrigaCX has recently claimed the firm is now out of money, at a...

Bitcoin Cash (BCH) Could Start Fresh Rally Above $124

Bitcoin Cash (BCH) Could Start Fresh Rally Above $124

by Crypto Gist
February 15, 2019
0

Bitcoin cash price rallied recently and broke the $125 and $130 resistance levels against the US Dollar.The price traded as...

Load More
  • Trending
  • Comments
  • Latest
First Pound-backed Stable Coin Announced by UK Start-up

First Pound-backed Stable Coin Announced by UK Start-up

September 30, 2018
Launching a Website on the Bitcoin Cash Network Is Now a Reality

Launching a Website on the Bitcoin Cash Network Is Now a Reality

September 30, 2018
The Daily: Blockchain.com Launches OTC Trading Desk, Shapeshift Relaunches Coincap

The Daily: Blockchain.com Launches OTC Trading Desk, Shapeshift Relaunches Coincap

September 30, 2018
Bitcoin Remained “Shockingly Stable” During This Week’s Market Sell-Off

Bitcoin Remained “Shockingly Stable” During This Week’s Market Sell-Off

October 28, 2018
Indonesia Officially Recognizes Bitcoin as a Commodity

Indonesia Officially Recognizes Bitcoin as a Commodity

0

New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin to Mongolian ‘Candy’

0

SEC, CFTC, FBI Take Action Against Bitcoin-Funded Securities Dealer 1Broker

0
Blinded by the Light: Why Top Economists Are Wrong About Bitcoin

Blinded by the Light: Why Top Economists Are Wrong About Bitcoin

0
Indonesia Officially Recognizes Bitcoin as a Commodity

Indonesia Officially Recognizes Bitcoin as a Commodity

February 15, 2019
Bitcoin (BTC) Price Analysis – February 15

Bitcoin (BTC) Price Analysis – February 15

February 15, 2019

High Cost Slows Down Bitcoin ATM Growth in Africa

February 15, 2019
QuadrigaCX Runs out of Funds as Lawyers Pitch to Represent Its Creditors

QuadrigaCX Runs out of Funds as Lawyers Pitch to Represent Its Creditors

February 15, 2019

Follow Us

  • 5 Fans
  • 57 Followers

© 2018 Crypto Gist. All Rights Reserved.

No Result
View All Result

© 2018 CryptoGist. All Rights Reserved.

  • bitcoinBitcoin(BTC)
    $3,626.88 0.15%24H
    BITCOIN
    24H : 0.15%
    7D : -0.49%
    Volume : $6,084,857,202.71
    Marketcap : $63,614,751,894.00
  • ethereumEthereum(ETH)
    $122.31 0.33%24H
    ETHEREUM
    24H : 0.33%
    7D : 3.65%
    Volume : $3,038,215,436.82
    Marketcap : $12,827,121,745.00
  • rippleXRP(XRP)
    $0.300 -1.25%24H
    XRP
    24H : -1.25%
    7D : -3.33%
    Volume : $419,759,559.24
    Marketcap : $12,369,406,027.00
  • bitcoin-cashBitcoin Cash(BCH)
    $121.95 -0.48%24H
    BITCOIN CASH
    24H : -0.48%
    7D : -4.92%
    Volume : $198,122,943.28
    Marketcap : $2,149,170,426.00
  • eosEOS(EOS)
    $2.79 1.31%24H
    EOS
    24H : 1.31%
    7D : 3.57%
    Volume : $855,947,331.92
    Marketcap : $2,530,797,162.00
  • stellarStellar(XLM)
    $0.0791 3.57%24H
    STELLAR
    24H : 3.57%
    7D : -1.86%
    Volume : $198,884,112.90
    Marketcap : $1,516,299,185.00
  • litecoinLitecoin(LTC)
    $42.40 1.49%24H
    LITECOIN
    24H : 1.49%
    7D : 0.34%
    Volume : $1,027,909,574.17
    Marketcap : $2,564,498,019.00
  • tetherTether(USDT)
    $1.01 -0.01%24H
    TETHER
    24H : -0.01%
    7D : 0.21%
    Volume : $5,023,777,517.98
    Marketcap : $2,032,317,226.00
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.