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Which Bank announced a partnership with Abu Dhabi-based LuLu Exchange to leverage blockchain technology for cross-border remittances?
  • a)
    Federal bank
  • b)
    Dena bank
  • c)
    IDBI bank
  • d)
    HDFC bank
  • e)
    IOB bank
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which Bank announced a partnership with Abu Dhabi-based LuLu Exchange ...
Federal Bank announced a partnership with Abu Dhabi-based LuLu Exchange to leverage blockchain technology for cross-border remittances. In collaboration with Digiledge, a Bengaluru based fintech start-up, Federal Bank and Lulu Exchange have launched and successfully tested the service using blockchain technology. Blockchain technology helps organisations share data in a more trusted, distributed and extensively automated way and is thus rapidly transforming the financial and commercial world. By collaborating with multiple exchange houses abroad, Federal Bank has managed to hold a major share in the inward remittances market of India.
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Which Bank announced a partnership with Abu Dhabi-based LuLu Exchange to leverage blockchain technology for cross-border remittances?a)Federal bankb)Dena bankc)IDBI bankd)HDFC banke)IOB bankCorrect answer is option 'A'. Can you explain this answer?
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