According to Ripple’s own information, the UAE money transfer operator will use a blockchain company. UAE Exchange, the largest money transfer operator in the Middle East, will use Ripple’s blockchain to process payments around the world.
According to Ripple, together with the UAE Exchange, RippleNet already includes 100 countries and financial institutions.
Dilip Rao, Global Head, Infrastructure Innovation, Ripple, said: “We chose to focus on solving inefficiencies in key corridors where payment flows are significant and growing. Adding a market leader like UAE Exchange to RippleNet will bring instant, certain, low-cost payments to the millions of retail customers in the UAE who send money abroad”.
By the way, recently MoneyGram company, operator of international financial markets, also announced partnership with Ripple.