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Ripple (XRP) Partner Al Ansari Exchange to Offer Convenient Payment Options in New Collaboration With Top UAE Organizations.
Al Ansari Exchange, a UAE-based global remittance company, has partnered with Technology and Innovations Park (SRTI Park) as part of efforts to provide convenient payment options to its clients.
Other partners in the deal include Sharjah Research and the United Arab Emirate’s major free zones focused on innovation, local news outlet GCC Business News reports.
Details of the Partnership
Al Ansari Exchange, which recently collaborated with blockchain company Ripple for cross-border remittances through the latest partnership, will enable SRTI Park to offer fast and convenient payment solutions to its growing clients.
Under the partnership, SRTI Park’s customers can settle their fees and pay for the company’s services on any of Al Ansari Exchange’s networks strategically located across 200 branches in the United Arab Emirates.
Commenting on the development, Hussain Al Mahmoudi, CEO of SRTI Park, who seems excited about the company’s partnership with Al Ansari Exchange, said:
“This tie-up will boost the package of services we offer to our investors, companies and individuals, as SRTI Park strives to simplify and accelerate the process of registering and licensing new companies, a reflection of Sharjah’s positioning as the preferred destination for knowledge-based investment.”
Per the report, Al Ansari Exchange’s partnership with the trio falls within the scope of enhancing relationships with the private sector across diverse fields.
The move is also tipped to link private firms, government agencies, and academic institutions in order to foster various research needed to conduct business activities, as well as support the UAE’s transition to a knowledge economy.
Rashed A. Al Ansari, CEO of Al Ansari Exchange, spoke about the collaboration, saying:
“The agreement highlights our commitment to serve all segments of society and help foster a culture of public-private partnership, in line with the directives of our wise leadership.”
Financial Institutions Using Ripple Technology
In recent times, Ripple’s payment solution has been sought after for cross–border remittances.
The blockchain company has seen its innovative payment technology, RippleNet, adopted by over 200 financial institutions globally, including the Canadian Imperial Bank of Commerce (CIBC).
In October 2021, Al Ansari Exchange signed a partnership with Ripple to use the company’s RippleNet for cross-border remittances to Malaysia.