Dubai's Mint to integrate blockchain into existing tech
A key element of Mint's strategy is to provide remittance services via its mobile wallet for its customers
Mint Corporation is a globally certified payments company focused on offering financial services to the unbanked salaried workers in Dubai.
The addition of blockchain is a valuable extension to Mint’s current product offerings for corporate clients and their employees. Mint already provides payroll services to approximately 400,000 expatriate workers in the UAE and management believes that this business will continue to grow. Mint intends to provide remittance services to this captive client base using blockchain enabled technology.
A key element of Mint’s strategy is to provide remittance services via its mobile wallet for its customers, many of whom send money home to their families regularly. Remittance is an area where blockchain solutions are gaining significant traction.
By launching new applications leveraging blockchain technology, Mint expects to reduce its costs and develop accretive revenue opportunities that do not exist in its current business plan.
Dubai Government is taking the lead and recently announced they intend to become the first blockchain-powered government by 2020 and are actively working to develop a world class FinTech hub in Dubai. Mint is well positioned to benefit from this initiative.
“We believe that blockchain technology will enhance our core business and offering blockchain based solutions within our remittance service is a logical next step for Mint,” stated Vishy Karamadam, CEO, Mint Corp.