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Mid East Info
07-08-2025
- Business
- Mid East Info
Oman Arab Bank Launches: Low-Cost Remittances to Over 50 Countries
Muscat. 6 August 2025. Oman Arab Bank (OAB) is proud to its enhanced international money transfer service, designed to make sending funds to loved ones abroad more affordable, accessible, and secure than ever before. The service is simply known as iSend. Available through the OAB Mobile App, iSend empowers customers to transfer money to over 50 countries at highly competitive exchange rates and with fees starting from just OMR 1. This innovative remittance platform combines affordability with reliability, aiming to give customers greater value for their hard-earned money. Mr. Juma Al Fulaiti, Deputy Head of Retail Banking at OAB, said, 'At Oman Arab Bank, we understand how important it is for our customers—especially expatriates—to support their families back home. With iSend, we're offering a secure, seamless, and cost-effective remittance experience that reflects our continued commitment to customer-first innovation.' iSend not only offers the lowest transfer fees and best FX rates in the market, but also provides 24/7 accessibility through the OAB Mobile App. This ensures customers can initiate transfers any time, from anywhere in the world, with just a few taps on their mobile devices. The platform also puts security at the forefront, with robust digital safeguards and real-time tracking for peace of mind on every transaction. With Oman's vibrant expatriate community and the growing demand for reliable digital banking services, iSend is the go-to solution for cross-border money transfers. Customers can download the OAB Mobile App today to explore iSend, relishing with ease the convenience of digital remittances.
Yahoo
03-04-2025
- Business
- Yahoo
XRP in Focus as RLUSD Sees $100M Minted on Ripple Payments Boost
Over $100 million in Ripple USD (RLUSD) has been issued since April 1, among the highest levels in recent months, as demand for the relatively new stablecoin heats up. A $50 million tranche of RLUSD was issued earlier this week on Tuesday, with another $50 million late Wednesday. That came as Ripple added the stablecoin to its official payments product, with payment providers BKK Forex and iSend already said to be using the stablecoin. Industry leaders expect RLUSD to further shift crypto market dynamics, where upstarts tether (USDT) and USD Coin (USDC) could see competition from Ripple's product. XRP Ledger-based decentralized financial (DeFi) applications could be a cohort to watch for as RLUSD gains traction on various platforms, boosting XRP token demand. RLUSD is a stablecoin pegged 1:1 to the U.S. dollar, offered on the XRP Ledger and Ethereum blockchain. It is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. To maintain its peg, RLUSD relies on a 1:1 reserve system—each token matches an equivalent fiat value. Users can mint RLUSD by depositing dollars with authorized partners, who issue tokens, or burn RLUSD to redeem cash. Market arbitrage helps stabilize its price: if RLUSD trades below $1, traders buy it to redeem at par, raising demand; if above $1, they mint more, increasing supply. Security features make RLUSD appealing to institutional users. An XRP Ledger amendment in January saw a 'clawback' feature go live on the network, allowing the issuer to reclaim or "claw back" certain tokens, such as RLUSD, from users' wallets under specific conditions. This feature is typically implemented for regulatory compliance, to recover assets in cases of fraud, illegal activities, or when tokens are sent to unintended addresses. Sign in to access your portfolio
