Finablr, the holding company for money transfer companies Travelex and UAE Exchange, today announced a partnership with payments firm Alipay. In terms of blockchain, the
UAE Exchange is a Ripple partner. Today’s deal is for the entire Finablr group to explore collaboration involving the Ant Blockchain Information System. This may not be good news or Ripple fans, but we’ve asked Finablr for more information.
The partnership will expand Alipay’s reach for remittances through Finablr’s global network, spanning over 170 countries. In the first phase, Finablr’s platform has been integrated with Ant Financial’s remittance system, and now the partnership will explore an extension of the remittance service to Ant Financial’s remittance network including Alipay’s e-wallet partners.
In theory, a user of Alipay’s e-wallet partner will be able to send money to another user who is a Finablr customer. The partnership is focused on expanding the reach of remittance services for both the firms while utilising blockchain capabilities of Alipay.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
