Singapore-based Dragonfly Fintech has announced its deal to power Metro Money Exchange, a Malaysian licensed wholesale and money remittance company using the NEM’s blockchain technology. The payment and settlement solution will be implemented in partnership with BC Fintech Sdn Bhd, a Dragonfly system integrator. The solution will drive the entire remittance chain, from wholesale foreign exchange to the receipt of fiat money at the recipient’s end – tapping into a market that is estimated to be worth about $10 billion per annum in Malaysia.
Lon Wong, CEO of Dragonfly Fintech, remarked: “It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation,”
platforms and applications.