UAE Central Bank, Saudi Arabia to Develop Joint Cryptocurrency for Interbank Transactions

The central bank of the UAE has announced about the joint collaboration with the Saudi Arabian Monetary Authority (SAMA) aimed at issuing a new cryptocoin that would be created for transactions between the banks of these states. This information was revealed by GulfNews, a media located in Dubai, on December 12.

This information was confirmed by Mubarak Rashed Al Mansouri, the UAE central bank governor, who also commented this situation at the meeting devoted to the development of standards and regulations in the global banking system for the Arab region.

UAE Central Bank plans to make Interbank Transactions to Saudi Arabia using a new cryptocurrency …

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