Cryptocurrency promise for UAE’s unbanked migrants – but not yet

Dubai and the rest of the United Arab Emirates (UAE) is moving closer to opening licensed cryptocurrency exchanges, a step that could boost financial inclusion for the millions of expatriates who make up most of the region’s workforce. — Reuters

DUBAI: Every month, 24-year-old parking attendant Ramesh Giri waits outside a money transfer office in Dubai to send US$600 (RM2,533) in cash to support his parents and two brothers in Nepal.

He dreads the routine, which costs him up to US$7 (RM30) each time and is keeping him from saving enough to fulfil his aspiration of becoming a restaurateur – but that could all change in the weeks ahead.