Al Fardan Exchange joins RippleNet Cloud for cross border payments using crypto technology
Al Fardan Exchange, one of the UAE’s leading financial services providers, has announced a partnership with Ripple, the leading provider of enterprise blockchain and crypto technology solutions for cross-border payments.
This partnership will see Al Fardan join Ripple’s cloud-based global financial network, RippleNet Cloud and allow Al Fardan’s customers to remit money internationally in real-time at any time of day, all year round. RippleNet Cloud allows financial institutions to move away from aging and expensive legacy on-prem infrastructure, and embrace the flexibility, speed and resilience of cloud computing without the burden of hardware management.
The partnership not only further enriches the UAE’s payments ecosystem, but also provides a 100% safe and secure, always-on, seamless user experience for Al Fardan Exchange’s customers in the Middle East.
Appealing to a tech-savvy user base, the partnership means even more customers can benefit from instant cross-border money transfer services through Al Fardan Exchange’s touchpoints, anytime and anywhere – 365 days a year.
“Innovation is our watchword at Al Fardan Exchange, as we are always looking to add value to our wide customer base through strategic partnerships with companies such as Ripple.
We are well into a digital future and payments powered by technology which is growingly becoming key in the region. This partnership underscores our commitment to offering new channels and opportunities for people to remit money more securely, with more flexibility and convenience,” said Hasan Fardan Al Fardan, CEO at Al Fardan Exchange.
“We are proud to partner with a reputable financial service provider like Al Fardan Exchange to leverage blockchain technology to revolutionise cross-border payments, and further revolutionise the thriving payments industry in the UAE and the Middle East,” added Navin Gupta, Managing Director of RippleNet, South Asia and MENA.
Al Fardan Exchange was founded in 1971, and since then has grown its exchange network to more than 70 locations across the UAE and enjoys longstanding relationships with more than 150 banks and other financial institutions.
