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HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Business model platform on remittance, loan, payment solutions
By our business bureau September 14, 2018
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DUBAI: UDIA GLOBAL, a Dubai-based firm, also miners of UDIA-COIN cryptocurrency, has floated business model platforms that simplifies remittance, loan and payment solutions using cryptocurrency.

“Unlike the general financial institutions which attract a lot of charges in several items when foreign exchange is remitted to other countries’ bank accounts, remittance charges of UDIA coins are inexpensive since there are no additional charges,” said the President of UDIA GLOBAL, Hamed Khalfan Humaid Al Mahrouqi.

On loans, he said UDIA coins enable higher rates of return than interest of bank deposits by supporting loan systems like crowdfunding with peer-to-peer lending.

“In the existing system, people deposit money in banks and other people borrow the deposits from them. Large shares of profits made due to this are given to the banks.

“UDIA coins support peer-to-peer lending by using a P2P platform. The profits made at this moment are distributed to individuals’ shares so that they can make high levels of profits which cannot be compared to those from the financial institutions.”

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