LuLu Financial Holdings, an Abu Dhabi-based holding company with several investments in financial services in the Asia Pacific (APAC) region including the Philippines, was recently adjudged as a winner in the Network Accelerator category of the annual Blockchain Innovation Awards.
The Blockchain Innovation Awards recognizes game-changers in the financial services, crypto and digital payments sector, and is conducted as part of Ripple’s annual Swell Conference.
This year’s event was held in London with the attendance of several industry stalwarts.
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 here at LuLu Financial Holdings to be recognized with the coveted Network Accelerator award. The award reflects our efforts to adopt digital technologies towards advancing the cross-border payments ecosystem.”
“As early adopters of Ripple’s XRP for B2B applications, the On-Demand Liquidity (ODL) facility has helped us optimize 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,” he added.
Ahamed, who was also invited to speak in 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 the real use cases of blockchain-led technologies, with further potential lying untapped in the areas of AML and CFT.
In the same discussion, Ahamed also spoke about how the introduction of regulated digital currencies by some of the major global economies can eventually contribute to their widespread acceptance in other jurisdictions.
The investment company now has a network of over 25 branches and a proprietary digital payments app called LuLu Money. The company’s primary services now include cross-border payments, currency exchange, and wholesale banknotes.
The financial services company has been a major adopter of Ripple’s XRP for cross-border payments in the APAC region, including the Philippines.
Aside from the Philippines, LuLu Financial Holding’s investments in the APAC region now also include Malaysia, Hong Kong, and Singapore.
To know more about the company, visit www.luluexchange.com.