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Ripple Partner and J.P. Morgan Join Forces in UAE, Here's What For

Tue, 12/06/2022 - 14:39
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Yuri Molchan
Ripple partner Al Fardan Exchange and J.P. Morgan behemoth have inked strategic partnership in UAE
Ripple Partner and J.P. Morgan Join Forces in UAE, Here's What For
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A recently published press release states that Al Fardan Exchange LLC, which is one of the partners of Ripple Labs fintech giant, has teamed up with another behemoth, though it is from the conventional financial industry – banking juggernaut J.P. Morgan.

Al Fardan Exchange is a major firm for money transfer and currency exchange in the UAE and is licensed and regulated by the country's central bank. The two companies will together offer their customers value transfers conducted in a record short period of time.

Al Fardan Exchange has been cooperating with Ripple since January 2022.

Ripple partner teams up with J.P. Morgan

This partnership between Al Fardan Exchange and the renowned global bank will enable customers to transact in major global fiat currencies, and smaller ones too – the USD, GBP, EUR and South African Rand, (ZAR) to cut a long list very short.

Aside from that, customers in the UAE will be able to process faster and more reliable financial transfers. Per the chief executive of Al Fardan Exchange, Hasan Fardan Al Fardan, the company's collaboration with global banking giant J.P. Morgan has now been recognized as the advancement of the whole nation in the AML/CFT sphere and is now attracting major global players from the financial industry to return to the UAE market.

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Al Fardan Exchange has recently celebrated its 50th anniversary in the market. Recently, it relaunched its mobile application, AlfaPay. Besides, now the company offers customers "a branch in their pocket," which would enable them to make seamless and secure transactions, including remittances and paying bills.

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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