Dubai – Mubasher: The UAE-based e-Mal revealed that it has officially inaugurated its full-fledged digital financial platform.
The new platform, based on Blockchain technology and powered by eFatoora, aims to revolutionise the way individuals and businesses transact to make payments, micro-lending and associated products, the fintech firm said in a statement.
e-Mal launched an integrated ecosystem allowing digital payments to be made safely and securely.
This will take place through using e-Mal Tokens (EML), a fiat backed digital currency that can be stored in the e-Mal wallet.
The launch of the new platform supports Dubai’s aspirations and mandates to become a regional and global leader for digital and paperless transactions.
“We offer a comprehensive secure infrastructure that replaces traditional financial transactions, allowing contracts to take place in a more efficient, cost-effective, and secure manner using the speed of the blockchain. We were overwhelmed in such a challenging market to be supported by friends and family and reach our $185 million hard cap,” Yasmine Khan, the founder and CEO of e-Mal, said.
Khan added that “the e-Mal tokens, EML allows smooth transfers and payments for various transactions, including government services, utility bills and acquiring goods and services from multiple vendors.”
The e-Mal digital currency is expected to prop up business growth by slashing the cost of money transfer while promoting eco-friendly practices by cutting down paper transactions.
