The financial services company has been a major adopter of Ripple’s XRP for cross-border payments in the Asia Pacific region.
LONDON, November 21, 2022–(COMMERCIAL WIRE)–LuLu Financial Holdings, an Abu Dhabi-based holding company with several financial services investments in the APAC region, has been declared the winner in the Network Accelerator category of the annual Blockchain Innovation Awards.
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Mr. Adeeb Ahamed, MD, LuLu Financial Holdings, receives the Network Accelerator Award at the recently held Blockchain Innovation Awards during the Ripple Swell event in London (Photo: AETOSWire)
The Blockchain Innovation Awards recognize innovators in the financial services, cryptography and digital payments industry, and are held as part of Ripple’s annual Swell Conference.
This year, the event was held in London, with a number of industry stalwarts in attendance.
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 to advance the cross-border payments ecosystem.As an early adopter of Ripple’s XRP for B2B applications, the On-Demand Liquidity (ODL) facility has helped us streamline fund management in our APAC corridor Within permissible regulatory frameworks, we remain committed to our digital transformation efforts to make cross-border payments convenient and seamless for our consumers and strategic technology partners.”
Mr. Ahamed, who was invited to speak at 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-powered technologies, with further untapped potential in the area of AML/CFT.
He also spoke about how the introduction of regulated digital currencies by some of the world’s leading economies will eventually contribute to their widespread acceptance in other jurisdictions.
LuLu Financial Holding’s investments in the APAC region span the Philippines, Malaysia, Hong Kong and Singapore, with a network of more than 25 LuLu Money branches and a proprietary digital payments application. The company’s main services include cross-border payments, currency exchange and banknote wholesale.
To learn more, visit www.luluexchange.com
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