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Online Payments

Ripple powers instant cross-border payments for UAE exchange

Monday 12 February 2018 | 09:12 AM CET

UAE Exchange, a global money transfer, foreign exchange and payment solutions brand, has partnered with Ripple to enable instant, seamless and real-time cross-border payments.

Through this partnership, UAE Exchange joins RippleNet, Ripple’s enterprise blockchain network with over 100-member banks and financial institutions. This makes UAE Exchange the largest payment solutions provider in the Middle East to use Ripple’s blockchain technology to process payments globally in real time, according to the company’s press release.

The network provides real-time messaging, clearing and settlement of financial transactions for global banking and payment partners, and UAE Exchange will be able to offer an enhanced innovative payments experience for customers, including competitive rates, speed, transparency and efficiency.

With multiple investments in various fintech and digital payments companies, UAE Exchange is focused on collaborating with technology specialists, startups, industry partners and the academia to seek out opportunities that deliver positive customer experiences through the brand’s portfolio of digital assets and services.

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