Domains

Finablr’s UAE Exchange, Ripple to begin blockchain payments by first quarter

“Asia was one of the biggest recipients of the roughly $613 billion in remittances sent globally last year, with a large swathe coming from expatriate workers in the Middle East, where UAE Exchange, part of payments and foreign exchange company Finablr, is one of the main players. Most funds are currently sent through foreign exchange branches but a growing chunk is being transferred via websites and apps, with the use of blockchain technology expected to ramp up in the next few years — a transition that UAE Exchange and San Francisco-based Ripple are aiming to capture.”