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Payments General

Finablr's UAE exchange to partner with Ripple for cross border payments

Monday 11 February 2019 | 10:51 AM CET

Ripple has announced a new partnership UAE exchange and Finlabr subsidiary Unimoni to facilitate cross-border payments in Thailand.

UAE exchange and Unimoni are subsidiaries of Finablr, a payments company based in UAE. UAE exchange and Unimoni will partner with Ripple to facilitate cross border payments to Thailand utilizing the Ripple blockchain. According to a report, Finablr partnered with Siam Commercial bank to provide cross border payment services on RippleNet. The company also plans to expand its services globally.

RippleNet is a payment network on blockchain established by Ripple. It has more than 200 banks on its network and provides cross border remittance services. RippleNet is known for speedy transactions with instant settlements. RippleNet currently operates in over 55 countries and has some notable partners including Euro Exim bank and SBI Holdings, Japan.

Finablr is also seeking to go public according to a recent announcement. The company plans to launch an IPO and get listed on the London Bourse. The Finablr IPO will happen in March 2019 and it will be listed on the London bourse. HSBC, Goldman Sachs and JP Morgan are managing the IPO. Book runners are local and international banks. 

More: Link
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