UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

Saudi Arabia, UAE, Cryptocurrency

By UAE and Saudi Arabia — two countries that have the world’s second-largest combined sovereign wealth funds — have launched their pilot cryptocurrency. According to UAE’s official news agency, Emirates News Agency, the Saudi-Emirati cryptocurrency is one of the seven initiatives that will be implemented in both countries. Saudi-Emirati Cryptocurrency Restricted to Banks Only Formed in … Read more

UAE, Saudi Central Banks Work on a Cross-Border Cryptocurrency

The central banks of the United Arab Emirates (UAE) and Saudi Arabia are jointly working on a cryptocurrency to enable cross-border transactions between the two countries. Speaking on the sidelines of the Arab Monetary Fund (AMF) meeting, UAE Central Bank governor Mubarak Rashid Al-Mansouri revealed details of a joint project between the institution and the … Read more