Blockchain Payments by UAE Remittance Firms

Two UAE remittance firms, UAE Exchange and Unimoni  have gone live with blockchain payments, using Ripple’s technology, RippleNet.

In the initial phase of this new technology adoption, customers can make cross border payments in real time to Thailand. Finablr group, owner of UAE Exchange, Unimoni, Remit2India and many others, has partnered with Thailand’s Siam Commercial Bank to offer this service to its international customers. More countries will be added in the coming days.

“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.”

Promoth Manghat, CEO Finablr

More on this story: Two Remittance Firms Go Live With Ripple-Based Payments to Thailand