The financial services company has been a major adopter of Ripple’s XRP for cross-border payments in the Asia Pacific region
LONDON--(BUSINESS WIRE)--LuLu Financial Holdings – an Abu Dhabi based holding company with several investments in financial services in the APAC region, has been adjudged winner in the Network Accelerator category of the annual Blockchain Innovation Awards.
The Blockchain Innovation Awards recognizes gamechangers in the financial services, crypto and digital payments sector, and is conducted as part of Ripple’s annual Swell Conference.
This year, the event was held in London, with attendance of several industry stalwarts.
Accepting the award on behalf of his organization, Mr. Adeeb Ahamed, Managing Director of LuLu Financial Holdings, said, “It is a proud moment for all of us at LuLu Financial Holdings to be recognized with the coveted Network Accelerator award. The award reflects our efforts to adopt digital technologies towards advancing the cross-border payments ecosystem. As early adopters of Ripple’s XRP for B2B applications, the On-Demand Liquidity (ODL) facility has helped us optimize fund management in our APAC corridor within permissible regulatory frameworks. We remain committed to our digital transformation efforts to make cross-border payments convenient & seamless for our consumers and strategic technology partners.”
Mr. Ahamed, who was invited to speak in a panel discussion held as part of the two-day event, said that the role of every stakeholder in this ecosystem is to build trust. He added that the world is seeing real use cases of blockchain led technologies, with further potential lying untapped in the area of AML/CFT.
He also spoke about how the introduction of regulated digital currencies by some of the major global economies will eventually contribute to their widespread acceptance in other jurisdictions.
LuLu Financial Holding’s investments in the APAC region span Philippines, Malaysia, Hong Kong and Singapore, with a network of over 25 LuLu Money branches and a proprietary digital payments app. The company’s primary services include cross-border payments, currency exchange and wholesale banknotes.
To know more, visit www.luluexchange.com
*Source : AETOSWire