Finablr’s financial services brand become the first in its category in the Africa to implement blockchain-based money transfer services.
Monday 11, February 2019 BY KUDAKWASHE MUZORIWA
Finablr has announced that its network brands UAE Exchange and Unimoni are now on RippleNet, the brands will use Ripple’s blockchain-based platform to provide seamless cross-border transactions to Thailand, with plans in place to extend it to other countries.
In a statement, Finablr stated that the service has been launched first with Thailand’s Siam Commercial Bank, enabling UAE Exchange and Unimoni customers to transfer money instantly to their beneficiaries in Thailand.
Promoth Manghat, the Group CEO of UAE Exchange and Unimoni, said, “The adoption of blockchain opens up the considerable potential to streamline remittances and provide a frictionless, fast and secure payments experience.”
“We are delighted to be a part of the UAE Exchange and Unimoni journey in leading frictionless cross-border transfer experiences in the new digital era,” added Dechapol Lamwilai, the Head of Disruptive Technology Office, Siam Commercial Bank.