UAE Ex­change for tie-up with Rip­ple

Banking Frontiers - - News / Banking In The Gulf -

UAE Ex­change is in talks with US blockchain startup Rip­ple to ex­plore a pos­si­ble tie-up to stream­line pay­ments. The ex­change feels such a tie-up would help it in­tro­duce real time, cross-bor­der pay­ments us­ing blockchain tech­nol­ogy. In­cor­po­rat­ing blockchain into its pro­cesses would help it cut the speed and cost of money trans­fers for its cus­tomers, feels the ex­change, which has al­ready in­vested in two other block chain re­lated com­pa­nies re­cently. Promo th Mang­hat, CEO ofUAE Ex­change Group, said the ex­change has been sig­nif­i­cantly in­vest­ing in blockchain tech­nol­ogy, in­clud­ing in Loyyal, a blockchain in­no­va­tor build­ing a global loy­alty network.

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