Abu Dhabi Securities Exchange (ADX) has signed an agreement with First Abu Dhabi Bank (FAB) for the distribution of cash dividends through the bank’s digital wallet, payit.
Payit will enable ADX’s registered investors to manage their stock exchange requirements through the ADX Digital Wallet, according to a statement released on Tuesday.
“We are confident that this digital wallet will prove to be quick, safe, and completely transparent, as it allows users to send and request money easily,” acting CEO at ADX, Khalifa Al Mansouri, said.
In addition to receiving dividends, payit will also enable investors to use a group of payment services, including international and domestic transfers, along with payment through merchant partner apps and websites.
“FAB’s partnership with ADX will bring tangible benefits to investors and marks another step towards becoming a cashless society,” deputy group CEO at FAB, André Sayegh, commented.