FamaCash partners with Stably for borderless neobanking experience

By Pavithra R

FamaCash, a technology-rich digital payments platform provider, has announced that the company has partnered with Stably, a borderless Neobanking platform provider powered by blockchain, stable coins, and open finance APIs, to provide development support for Fama’s growing portfolio of financial service platforms.

FAMA Financial Holdings’ digital payment services division FamaCash is expanding its service portfolio to provide faster, efficient, and affordable mobile payment platforms and applications to banks, merchants, and individual customers.

Founded in 2018, Stably is a venture-capital-backed startup that is on a mission to connect wealth from the real world to the blockchain economy and help bring stability to the volatile cryptocurrency market. Stably is the creator of USDS, and Stably Prime.

“We are excited to partner with Stably to develop and grow our financial platforms. 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,” said Dr. Saiful Khandaker, CEO of FamaCash.

Under the partnership, FamaCash and Stably will work together to develop the FamaCash mobile payments platform, a borderless payment system for the global markets. The platform is expected to help financial institutions transform their legacy banking systems to provide state-of-the-art borderless mobile financial services.

“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.

Founded in 2015, FamaCash is a mobile & open digital payments marketplace that offers both merchants & consumers with a range of solutions for all their payment and marketing needs. The company offers e-wallet services, payment processing, micro-lending, Shariah-based mobile bank, merchant POS & Loyalty, trade finance, blockchain payment settlement, remittance, and related digital financial services and products that leverage user base, real-time payment processing, wealth of high-quality data, and operational efficiencies across FAMA’s ecosystem.