UAE central bank and Sama partner for blockchain project

middle-east

The United Arab Emirates Central Bank and the Saudi Arabian Monetary Authority (Sama) have launched a joint blockchain project that will overhaul how transactions between the two countries are made.

The initiative, called Project Aber, will connect a “limited” number of banks in each state to a distributed ledger framework that will form the core of a new “central financial transfer system” between the two countries.

“Sama and UAECB hope that their pilot projects will benefit everyone locally

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