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Ripple-Backed MoneyGram to Expand in UAE via eWallet Partnership


u.today 2020-06-29 09:30
Reading time: ~2 m

A recent press-release states that Ripple’s partner (backed with a solid investment from the DLT heavyweight last year) MoneyGram has teamed up with Digital Financial Services – a company indirectly connected to the Dubai Islamic Bank.

The joint venture will allow users of eWallet to conduct quick and low-cost payments to more than two hundred countries via a wide range of mobile wallet operators.

MoneyGram to expand in the UAE via eWallet

The press-release published by PR Newswire says that MoneyGram has chosen to partner with DFS to expand its presence in the Middle East and continue pushing global digital growth forward.

MoneyGram’s CRO Grant Lines pointed out that the UAE is one of the world’s biggest remittance countries.

eWallet is owned by Digital Financial Services. Via collaboration with MoneyGram, its clients will be able to send remittances to more than two hundred countries.

eWallet offers its clients the ability to wire money via a mobile app. To use it, you need to have a UAE ID and a sim card provided by a local telecom operator. The app does not require having a bank account, as per the press release.

John McAfee says XRP is not used by MoneyGram

In a recent tweet, crypto baron John McAfee called Ripple’s XRP a ‘worthless’ asset and insisted that MoneyGram does not offer its users the use of this coin.

Overall, as he spoke about crypto in his video for newbies, he emphasized that cryptocurrencies are trustless. Mr. McAfee pointed out that, via crypto, you don’t have to trust any bank to conduct your payments or trust any other centralized payment system, naming MoneyGram in particular.

John McAfee is a former Bitcoin vocal supporter. However, in January this year, he made a V-shaped reverse on BTC and emerged as a fan of anonymous coins and crypto in general, pitching it not as an asset but as an alternative means of payment independent of banks and governments.

In particular, Mr. McAfee stated that he often uses DAI and Monero (XMR).


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