05/02/19 11:36 UTC-4

UAE and Saudi Arabia banks have joined the project on cross-border transactions with digital currency

Six commercial banks from Saudi Arabia and the United Arab Emirates (UAE) have joined the digital currency project, – Argaam, a major news portal, reported on February 5th.

Referring to the comments of the UAE Central Bank (UAECB), Agraam notes that the project’s goal is to use cryptocurrency to finance transactions between Saudi Arabia and the UAE.

The news of the development of cryptocurrency by the two aforementioned countries appeared in December 2018, when the UAECB and the Saudi Arabian Monetary Agency (SAMA) announced that countries intend to use cryptocurrency for cross-border transactions.

Interesting in the section: Blokchain technology outside cryptocurrencies


Aber project

It became known that six unnamed commercial banks will join the interbank digital currency project, called Aber, with planned implementation over the next 12 months.

In the article, Argaam also added: "The official release of a currency depends on the results of the" concept verification "phase. The Saudi Arabian Monetary Agency (SAMA) and UAECB will decide on of the practical use of currency."

Interesting in the section: Tron: features and prospects

Last month, Saudi Arabia and the United Arab Emirates announced that the two countries had agreed to cooperate in developing joint cryptocurrency to better understand the development of blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details

Editor: Yuliya Soroka

See also: "Omkar Godboul: "Bitcoin can grow to $ 4,000""

#Bank #digitalcurrency #cryptocurrency #transactions #blockchain



07/05/19 06:00 UTC-4

Bitcoin rate is growing: BTC crossed the $6,000 barrier

On May 7, the first Bitcoin cryptocurrency increased by 4.29%. Now, the weighted average rate of digital gold is $5,929. At the same time, the "high" deals in today's trading session have already crossed the border of the psychological barrier of $6,000.

Hypes, funds, fiat money