Ripple-Backed MoneyGram to Expand in UAE via eWallet Partnership

News
Fri, 06/26/2020 - 09:21
article image
Yuri Molchan
The MoneyGram giant teams up with Digital Financial Services to enable P2P remittances for millions of eWallet users to over 200 countries
Ripple-Backed MoneyGram to Expand in UAE via eWallet Partnership
Cover image via stock.adobe.com
Contents

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.

Related John McAfee Calls XRP Worthless, Claims MoneyGram Does Not Use It
Related
John McAfee Calls XRP Worthless, Claims MoneyGram Does Not Use It

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).

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.