LuLuFin wins Best Network Accelerator at Ripple’s annual Blockchain Innovation Awards

LuLuFin wins Best Network Accelerator at Ripple’s annual Blockchain Innovation Awards

The financial company has been a major user of Ripple’s XRP for cross-border payments in the Asia Pacific region

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

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Mr. Adeeb Ahamed, MD, LuLu Financial Holdings, receiving the award for Network Accelerator at the recently held Blockchain Innovation Awards during the Ripple Swell event in London (Photo: AETOSWire)

The Blockchain Innovation Awards recognize gamechangers in the financial, crypto and digital payments sectors, and are conducted as part of Ripple’s annual Swell Conference.

This year, the event was held in London, with the participation of several industry professionals.

Adeeb Ahamed, CEO of LuLu Financial Holdings, accepted the award on behalf of his organization, “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 take deploying 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 optimize the management of funds in our APAC corridor within permitted 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 address a panel discussion held as part of the two-day event, said the role of all stakeholders in this ecosystem is to build trust. He added that the world is seeing real use cases of blockchain-led technologies, with further potential lying untapped in the area of ​​AML/CFT.

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He also talked about how the introduction of regulated digital currencies by some of the major global economies will eventually contribute to their widespread acceptance in other jurisdictions.

LuLu Financial Holdings’ investments in the APAC region span the Philippines, Malaysia, Hong Kong and Singapore, with a network of over 25 LuLu Money branches and a proprietary digital payment app. The company’s primary services include cross-border payments, currency exchange and wholesale of banknotes.

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*Source: AETOSWire

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Ajit Johnson
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