Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
LuLu Exchange and Federal Bank Enhance Cross-Border Payments into India with RippleNet

LuLu Exchange and Federal Bank Enhance Cross-Border Payments into India with RippleNet

January 13, 2022
in XRP News
406 17
0
Share on FacebookShare on Twitter

At 3.5 million people, the United Arab Emirates is home to the largest population of Indian migrants globally, making the UAE the top source of remittances for India.

Recognizing a need to enhance the cross-border payments experience in one of the biggest remittance corridors in the world, LuLu Exchange, a leading Abu Dhabi-based financial services provider partnered with leading Indian private sector financial institution Federal Bank.

Through RippleNet Cloud, cross-border transactions into India made through LuLu Exchange’s 76 branches in the UAE and the LuLu Money mobile payments app are faster and more reliable.

“Our long-standing association with Ripple has opened up plenty of avenues for us to solidify our presence in existing and new corridors, and the latest partnership is a step forward in providing our customers the best possible experience for their payment needs to India,” said Adeeb Ahamed, LuLu Financial Group Managing Director.

LuLu Exchange joins dozens of financial institutions already running on RippleNet Cloud. Using RippleNet Cloud, LuLu Exchange can send and receive payments between financial institutions on RippleNet with one easy integration to process cross-border payments instantly, reliably and cost effectively—entirely in the cloud.

“The partnership signals a major step towards strengthening our Indian corridor, all the while advancing our overall mission to design the world’s most reliable, seamless and accessible financial journeys through collaborative partnerships and application of technology,” Mr Ahamed added.

“Disruptive technology innovation is the mantra at Federal Bank & the bank continuously invests in technology, which benefits all our partnerships, including the remittance industry partners. We believe such innovations will benefit the larger Indian diaspora who can enjoy a modern, low cost, fast, easy and more reliable way of transferring money to India,” said Nilufer Mullanfiroze, Senior Vice President & Country Head – Deposits, Cards & Unsecured Lending at Federal Bank.

“Despite the pandemic, we’ve seen remittances continue to surge in some of the largest corridors including the UAE to India – people still need to send money to friends and family abroad more than ever,” said Navin Gupta, Managing Director of South Asia and MENA. “Ripple is proud to partner with LuLu Exchange and Federal Bank to transform the cross-border payments experience in the region to be easier, cheaper and more reliable.”

RippleNet’s product suite ensures the highest standard in safety, security and privacy and is now SOC 2 certified, meaning that financial institutions planning to adopt RippleNet Cloud can do so with the confidence that Ripple has a certified, industry-leading seal of approval when it comes to meeting modern security and privacy needs.

Source link

You might also like

LATAM: Low Interoperability Highlights Crypto’s Big Potential

LATAM: Low Interoperability Highlights Crypto’s Big Potential

April 24, 2022
For the Love of NFTs: VSA Partners and Rare Air Media Bring Jordan NFTs to the XRPL

For the Love of NFTs: VSA Partners and Rare Air Media Bring Jordan NFTs to the XRPL

April 20, 2022

Related News

LATAM: Low Interoperability Highlights Crypto’s Big Potential

LATAM: Low Interoperability Highlights Crypto’s Big Potential

by Editorial Team
April 24, 2022
0

Across Latin America, a fragmented payments landscape has resulted in low interoperability, often leading to high fees for both senders...

For the Love of NFTs: VSA Partners and Rare Air Media Bring Jordan NFTs to the XRPL

For the Love of NFTs: VSA Partners and Rare Air Media Bring Jordan NFTs to the XRPL

by Editorial Team
April 20, 2022
0

Non-Fungible Tokens, or NFTs, are creating tremendous opportunities for creators and collectors of art, memorabilia, and other digital assets. Since...

CBDCs: From the “Hype” to the “How” of Making Financial Inclusion a Reality – Part 2

CBDCs: From the “Hype” to the “How” of Making Financial Inclusion a Reality – Part 2

by Editorial Team
April 7, 2022
1

In our recent survey of over 1,600 financial leaders across 22 countries, we uncovered some pretty astounding insights: A whopping...

CBDCs: From the “Hype” to the “How” of Making Financial Inclusion a Reality – Part 1

CBDCs: From the “Hype” to the “How” of Making Financial Inclusion a Reality – Part 1

by Editorial Team
April 6, 2022
1

We recently surveyed over 1,600 financial leaders across 22 countries and discovered that 37% of senior financial institution executives around...

Next Post
Bitcoin Mining Firm Luxor Launches ASIC Trading Desk – Mining Bitcoin News

Bitcoin Mining Firm Luxor Launches ASIC Trading Desk – Mining Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    957 shares
    Share 383 Tweet 239
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

Bank of Spain Governor crypto

Bank of Spain Governor Warns About Traditional Banking’s Exposure to Crypto Assets

February 23, 2022

Here’s why Theta could be a breakout star in 2022

January 17, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.