Dragonfly Fintech Selected to Implement Payment Solution

SINGAPORE, June 20, 2016 /PRNewswire/ -- Singapore Dragonfly Fintech (DF), clinched a deal today 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. The remittance market in Malaysia is about $10 billion per annum.

"It is about transforming the money remittance space and repositioning the service as a platform business allowing near frictionless participation," said Lon Wong, CEO, Dragonfly Fintech.

This solution is also applicable to banks, and they are very positive about this solution. Banks are meticulously working through their processes to ensure stakeholder concerns and needs are addressed before embarking on such a project. Dragonfly will continue to work closely with its clients in supporting their decision-making needs.

[Full story on Yahoo Finance]