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UAE Bank Opens Bangladesh Remittance Corridor using Ripple’s Blockchain Tech

United Arab Emirates-based retail and business bank, RAKBank, is expanding its remittance routes using Ripple's blockchain technology.Ripple, which provides distributed ledger payments products for financial institutions, was selected to help the UAE's 9th largest bank provide quick cross-border payments in a new Bangladeshi corridor.A partnership, announced Sunday, between Bangladesh-based Bank

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How Blockchain Disrupts Acquiring, Remittance and Corporate Settlement

A few years ago, blockchain technology gained significant traction and was regarded as a truly revolutionary tool for any industry, providing opportunities to significantly update the way of doing business in many areas. As a result, numerous illicit actors didn’t neglect to use the opportunity to capitalize on hype and

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Blockchain Cryptocurrency Ripple Teams Up With Thai Remittance Payment Company DeeMoney

Sharing is caring!Enterprise blockchain payment solution Ripple has cut a deal with Thai fintech company  DeeMoney, who specialise in remittance payments, also known as cross-border payments.  Deemoney is now processing live transactions, using Ripple’s global financial platform – a  payments network which comprises more than 300 financial institutions worldwide. This

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MoneyGram Reveals Real-Time Remittance Tech, Based on Visa not Ripple

Remittances giant MoneyGram announced a new service allowing real-time money sending, but the solutions of its blockchain partner Ripple are not involved.MoneyGram recently announced FastSend, a new service that allows its customers to send money in real-time to a phone number via a dedicated website or mobile application. Still,

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Egyptian National Bank Turns to Blockchain to Boost Remittance Business

Another major financial institution has partnered with blockchain-based payments firm Ripple.The National Bank of Egypt has signed a cooperation agreement with Ripple to establish new channels for inward remittances, according to a Feb. 11 report from local daily news site Youm7. The agreement reportedly makes the National Bank the country’s

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Intermex Partners With Ripple for XRP-Based Remittance Corridor

Ripple's technology will form the basis of a new XRP-based remittance service from International Money Express (Intermex).Ripple announced Tuesday that it had partnered with Intermex, which will leverage RippleNet – a network of institutional payment providers using Ripple's several payments solutions – to develop "faster, transparent cross-border remittance services" between

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Asian Conglomerates Lead $31M Round for Blockchain Remittance Firm Lightnet

Lightnet, the company behind the Velo Protocol, recently raised $31.2 million in a Series A round.The funding was led by major financial and business groups including UOB Venture Management, Seven Bank, Uni-President Asset Holdings, HashKey Capital, Hopeshine Ventures, Signum Capital, Du Capital and Hanwha Investment and Securities, according to a

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Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees

Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12.SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippine pesos and circumventing the longer process of traditional

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UAE-Saudi digital currency project to cut remittance costs

UAE Central Bank governor Mubarak Al Mansouri said the UAE-Saudi digital currency project will help cut remittance costs.It will also contribute to enhancing transfers among banks and mutual trade between the two countries, Al Mansouri added on the sidelines of the Annual Conference of KSA and UAE Banks. Both countries have planned

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