Crypto currency In Ksa

[Mohammad alsmadi]

Today the Saudi Arabian Monetary Authority (SAMA) and United Arab Emirates Central Bank (UAECB) published a statment to launch A common digital currency between theme Called "Aber"
And The statement Said "project " Aber" is for use in financial settlements between the Kingdom of Saudi Arabia and UAE through Blockchains and Distributed Ledgers technologies. This is in the framework of "Proof-of- concept", which can be summed up in closely understanding and studying the dimensions of modern technologies and their feasibility through practical application and the determination of their impact on the improvement and the reduction of remittances costs and the assessment of technical risks and how to deal with them. This is in addition to the qualification of cadres that will deal with the technologies of the future and understanding the requirements of issuing a digital currency for use by the two countries. Furthermore, it will establish an additional means for the central financial transfer systems of the two countries and enable banks to directly deal with each other in conducting financial remittances."

The statement link :http://www.sama.gov.sa/en-us/news/pages/news29012019.aspx
 

[SMOKEU]

oh this would be great.. no wonder UAE is open for this.. im hoping also that they would launch crypto atm

[akitha]

i have heard United Arab Emirates in fond in crypto currency, but for Saudi Arabia this is my first time hearing that they will come into crypto.. Its a good news in the market as more and more people are into crypto