SAMA & UAECB: Plans to unleash a digital currency on blockchain

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SAMA & UAECB: Plans to unleash a digital currency on blockchain

SAMA & UAECB: Plans to unleash a digital currency on blockchain

  • Launch  project jointly “rather than independently in each country” as both nations have in place central systems for remittances
  • SAMA and UAECB do point out that there are still some aspects of international remittances that need “further development”
  • The Aber project also examine the concept of an additional reserve for a domestic central payments settlement system in case of disruptions
  • The use of the currency will be restricted to a limited number of banks in each state