Saudi Arabia and the UAE launched the digital currency Aber

Saudi Arabia and the UAE launched the digital currency Aber

Saudi Arabian Monetary Agency (SAMA) and the UAE Central Bank (UAECB) launched the joint Aber digital currency, designed to serve as a means of payment in cross-border payments between the two countries.



We are talking about an experimental stage at which both central banks intend to study the use of the blockchain in issuing common digital currency for cross-border payments, the central bank of Saudi Arabia said in a statement. The two countries decided to launch a joint project, since each has centralized money transfer and internal transaction systems that have proven to be profitable. However, the statement says that certain aspects of the international money transfer system need further development.



SAMA and UAECB agreed that ...
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  1. AnonymousApril 3, 2019 at 3:13 PM

    Blockchain Cross-Border Payments How Blockchain Is Being Used To Solve Cross-Border Payments Problems It's been 9 years since Bitcoin came into existence, making it possible for quick, inexpensive and also transparent peer-to-peer transactions. Over these years, Bitcoin has seen both magnificence and grief. Today, it survives, therefore, does its underlying innovation blockchain which has actually astounded different entities, especially banks as well as banks. With the hope that the distinctive advantages of Bitcoin can be duplicated by drinking the Blockchain Technology right into their ecosystems, many financial institutions have actually been discovering it.

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