Al Ansari Exchange Taps RippleInternet Cloud For Remittances to Malaysia

Today, we’re thrilled to announce that UAE-based overseas alternate and worldwide cash switch firm, Al Ansari Exchange has joined RippleInternet. Through RippleInternet Cloud, Ripple’s world cloud-based monetary community know-how, Al Ansari Exchange will join with main cash switch know-how firm MoneyMatch to supply same-day remittances to Malaysia. 

This service will initially help transactions in Malaysian Ringgit (MYR), with plans to help the Brunei greenback (BND) and the Australian greenback (AUD) sooner or later. 

“Blockchain technology has paved the way for seamless, transparent and advanced methods to send remittances in real-time worldwide. Adopting this technology on the cloud via our partnership with Ripple and MoneyMatch is in line with our commitment to provide our customers with more flexible, faster, safer and more innovative money transfer solutions. Together, we are carving new benchmarks in the industry, with an end goal of redefining customer experience and taking our services to the next level internationally,” stated Rashid Al Ansari, Chief Executive Officer of Al Ansari Exchange.

RippleInternet Cloud permits banks and monetary establishments to maneuver away from ageing and costly legacy on-premise infrastructure, and embrace the flexibleness, velocity and resilience of cloud computing with out the burden of {hardware} administration.

“We are excited to be partnering with Al Ansari Exchange, and look forward to supporting them and powering their Malaysian Ringgit transactions to Malaysia. The synergies that this partnership will unlock is promising, and we look forward to a long and fruitful business relationship between both parties. We hope the Malaysians working in the UAE will also lend us their support and try the service out,” stated Adrian Yap, Chief Executive Officer of MoneyMatch.

“Al Ansari is one of the largest and longest-standing exchanges in the region, focused on expanding their network and evolving their offerings to provide the best financial services to their customers,” stated Navin Gupta, Managing Director, South Asia and MENA, at Ripple. “We view this partnership with MoneyMatch as a continuation of that ethos, and we’re excited to be partnering with them to improve cross-border payments in key remittance corridors with RippleNet Cloud.” 

RippleInternet leverages blockchain know-how to assist companions throughout a world community speed up their enterprise efficiency and scale. It delivers a superior end-customer expertise, simplified community partnering, liquidity administration options, strains of credit score and a state-of-the-art infrastructure that allow real-time funds. If you’re a monetary establishment concerned about adopting RippleInternet Cloud, contact us at this time.

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