COLLEGEVILLE, Pa., Aug. 24, 2020 /PRNewswire/ -- FamaCash, one of the fastest growing digital financial service (DFS) networks in the world, today announced that it has partnered with the blockchain technology experts at Stably Corporation to provide development support for Fama's growing portfolio of financial service platforms.
FamaCash, the digital payment services division of FAMA Financial Holdings, is expanding FAMA's portfolio of services to provide faster, more efficient and affordable mobile payment platforms and applications to merchants, banks and individual customers.
Stably is a leader in Borderless Neobanking platforms powered by blockchain, stable coins and open finance APIs. Stably is the creator of USDS, one of the first USD-backed stable coins featured on major crypto exchanges; and Stably Prime, a customizable borderless financial account platform.
Through this strategic partnership, FamaCash and Stably will work together to develop the FamaCash mobile payments platform, a borderless payments system for the global markets. The new FamaCash platform will help financial institutions transform their legacy banking systems to provide state-of-the-art borderless mobile financial services.
"We are excited to partner with Stably to develop and grow our financial platforms," said Dr. Saiful Khandaker, CEO of FamaCash. "It's clear that sending a remittance from one country to another is still too expensive and time-consuming, especially for migrant workers and 'unbanked' individuals. This is why we created FamaCash, a software platform that is helping the financial industry keep pace with the need for faster, easier to use and more affordable borderless payment systems."
"Our partnership will allow FamaCash users to enjoy a borderless neobanking experience powered by both stable coins and traditional fiat methods like SWIFT wires. Our mission is to make financial transactions faster, cheaper, more accessible for anyone in the world and we look forward to working with FamaCash to achieve these goals together," said Kory Hoang, CEO of Stably.
FamaCash offers include e-wallet services, payment processing, micro-lending, Shariah based mobile bank, merchant POS & Loyalty, remittance, trade finance, blockchain payment settlement, and related digital financial services and products that leverage user base, wealth of high-quality data, real-time payment processing and operational efficiencies across FAMA's (Trusted Blockchain Network™) ecosystem. To learn more about Fama Cash, please visit: www.famacash.com
Stably is a fast growing FinTech company from Seattle founded in 2018 by a team of former bankers and Amazon software engineers. The team has raised close to $3M in funding to date from angel investors as well as leading venture capital firms like 500 Startups, BEENEXT and Pay It Forward. Stably is also the blockchain developer for a wide range of cryptographic tokens and stable coins backed by real assets, such as USD, EUR, CAD, precious metals and real estate. Their mission is to make financial transactions faster, cheaper and more transparent through a borderless digital money platform powered by open-banking and blockchain technologies.
To learn more about Stably, please visit: www.stably.io
For more information contact:
Dr. Saiful Khandaker, Chairman/CEO
FAMA Financial Holdings
SOURCE Fama Cash, Inc.