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LuLuFin wins “Best Network Accelerator” at Ripple’s annual blockchain innovation award

LuLuFin wins "Best Network Accelerator" at Ripple's annual blockchain innovation award

The financial services company is actively using XRP Ripple for cross-border payments in the Asia-Pacific region.

LONDON, November 21, 2022–(BUSINESS WIRE)–LuLu Financial Holdings, an Abu Dhabi-based holding company with several financial services investments in the Asia-Pacific region, has been named the winner in the Network Accelerator category of the annual Blockchain Innovation Awards.

This press release contains multimedia. See the full issue here: https://www.businesswire.com/news/home/20221120005064/en/

Mr. Adib Ahamed, Managing Director of 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 honor innovators in financial services, cryptography and digital payments and are held as part of the annual Ripple Swell conference.

This year’s event was held in London with the participation of several industry figures.

Accepting the award on behalf of his organization, Mr. Adib Ahamed, Managing Director of LuLu Financial Holdings, said: “All of us at LuLu Financial Holdings are proud to have received the coveted Network Accelerator award. The award reflects our digitalization efforts to advance the cross-border payments ecosystem. As early adopters of Ripple XRP for B2B applications, the On-Demand Liquidity (ODL) facility has helped us streamline fund management in our APAC corridor within acceptable 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 examples of the use of blockchain-based technologies, with further untapped potential in the field of AML/CFT.

He also talked about how the introduction of regulated digital currencies by some of the world’s major economies will eventually lead to their widespread adoption in other jurisdictions.

LuLu Financial Holding’s Asia-Pacific investments cover the Philippines, Malaysia, Hong Kong and Singapore with a network of over 25 LuLu Money branches and its own digital payment application. The company’s main services include cross-border payments, currency exchange and banknote wholesale.

To learn more visit www.luluexchange.com

*Source : AETOSWire

View original version on businesswire.com: https://www.businesswire.com/news/home/20221120005064/en/

Contacts

Ajit Johnson
ajit.johnson@lulufin.com

Written by khirou

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