UAE targeting digital payments adoption: First Abu Dhabi Bank (FAB) partners with Moneygram
|- UAE bank, First Abu Dhabi Bank has introduced a new solution known as Payit, which is a digital wallet.
- The financial firm has also recently entered a partnership with MoneyGram, which could potentially present an opportunity for XRP usage.
First Abu Dhabi Bank (FAB) recently announced a solution Payit, a digital wallet that facilitates P2P transfer and international remittances at low costs and quick processing time.
The bank additionally tied up with MoneyGram, which as a reminder had a ten percent stake bought by payments solution specialist Ripple Inc. as reported by Gulf News.
Working with MoneyGram should, in theory, mean that they indirectly, or maybe even directly, will leverage XRP to transfer wealth across the globe.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.