• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Upbit establishes Thailand presence as Bitkub faces technical hurdles

    Upbit establishes Thailand presence as Bitkub faces technical hurdles

    UBS economist discuss why cryptos can’t be “actual currencies”

    UBS economist discuss why cryptos can’t be “actual currencies”

    SEC adds 8 crypto companies to its warning list PAUSE

    SEC adds 8 crypto companies to its warning list PAUSE

    30 Japanese arrested over NEM token stolen from Coincheck in 2018

    30 Japanese arrested over NEM token stolen from Coincheck in 2018

    Litecoin trend analysis LTCUSD uptrend under threat as $130 support breaks

    Litecoin trend analysis: LTC/USD uptrend under threat as $130 support breaks

    Bitcoin trend analysis BTCUSD drifts lower as Fort $30k prevents sharp fall

    Bitcoin trend analysis: BTC/USD drifts lower as Fort $30k prevents sharp fall

    Crypto

    Crypto may get a new lifeline under Joe Biden’s administration

    Ripple lawyer Ripple lawsuit Brad Garlinghouse XRP woes Metal Pay

    Ripple lawyer hopes for aid from Biden’s government

    Stellar price prediction XLM towards $0.5, analyst

    Stellar price prediction: XLM towards $0.5, analyst

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Upbit establishes Thailand presence as Bitkub faces technical hurdles

    Upbit establishes Thailand presence as Bitkub faces technical hurdles

    UBS economist discuss why cryptos can’t be “actual currencies”

    UBS economist discuss why cryptos can’t be “actual currencies”

    SEC adds 8 crypto companies to its warning list PAUSE

    SEC adds 8 crypto companies to its warning list PAUSE

    30 Japanese arrested over NEM token stolen from Coincheck in 2018

    30 Japanese arrested over NEM token stolen from Coincheck in 2018

    Litecoin trend analysis LTCUSD uptrend under threat as $130 support breaks

    Litecoin trend analysis: LTC/USD uptrend under threat as $130 support breaks

    Bitcoin trend analysis BTCUSD drifts lower as Fort $30k prevents sharp fall

    Bitcoin trend analysis: BTC/USD drifts lower as Fort $30k prevents sharp fall

    Crypto

    Crypto may get a new lifeline under Joe Biden’s administration

    Ripple lawyer Ripple lawsuit Brad Garlinghouse XRP woes Metal Pay

    Ripple lawyer hopes for aid from Biden’s government

    Stellar price prediction XLM towards $0.5, analyst

    Stellar price prediction: XLM towards $0.5, analyst

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Industry News

UAE, Saudi Arabia joint CBDC won’t be available for public use

Ibiam Wayas by Ibiam Wayas
November 30, 2020
in Industry News
2 min read
Crypto-friendly SEBA Bank plans expansion with $22M fresh capital
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

TL:DR Breakdown: 

  • Saudi Arabia joint CBDC will not be available for individuals to use, according to SEMA exec.
  • The CBDC is planned under the Aber Project to streamline cross-border payments between Saudi Arabia and UAE.

Saudi Arabia joint CBDC with the United Arab Emirates (UAE) will not be available for the public, says an executive at SEMA or the Saudi Arabian Central bank. The update today comes a few days after the central banks published an update on the CBDC project dubbed “Aber.” The project was aimed at enabling the participating banks to study how they can improve cross border payments through the use of digital currency and also blockchain.

Saudi Arabia joint CBDC is not for individual

The clarification today was made by the SEMA’s deputy Governor for Development and Technology, Ziad Al Yousef. According to him, the Saudi Arabia joint CBCD will only be available for all the participating members (banks) of the Aber project to use. The wholesale digital currency will enable Saudi Arabia banks to process both cross-border and domestic payment among themselves and other financial institutions in the partnering country UAE, Al Arabiya TV reported.

The project was initiated to enable the development of a more efficient system for payment in order to streamline cross-border payments between financial institutions from the respective countries. In this course, the banks mulled blockchain and digital currency. Not just as a viable means for facilitating cross-border transactions, the Saudi Arabia joint CBDC was also viewed as huge advancement over centralized payment methods, especially when considering architectural resilience.

RelatedPosts

UBS economist discuss why cryptos can’t be “actual currencies”

Crypto may get a new lifeline under Joe Biden’s administration

Pornhub adds new cryptos for payment, 16 in total

Indian crypto exchanges record massive growth after Bitcoin’s ATH

Bank digital currencies

Many central banks are now nurturing the idea of launching a digital currency, while some already have initiated efforts to launching one, especially China. While still under the pilot, the Chinese have been used to process millions of transactions. Recently, the authorities in Suzhou announced plans to gift the Chinese digital currency to residents. Already, the province of Shenzhen gave away $1.5 million worth of digital yuan to residents.

Tags: cbdcDigital Currency
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

Related Posts

UBS economist discuss why cryptos can’t be “actual currencies”
Industry News

UBS economist discuss why cryptos can’t be “actual currencies”

January 22, 2021
Crypto
Industry News

Crypto may get a new lifeline under Joe Biden’s administration

January 21, 2021
Pornhub adds new cryptos for payment, sixteen in total
Industry News

Pornhub adds new cryptos for payment, 16 in total

January 20, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

Upbit establishes Thailand presence as Bitkub faces technical hurdles

Upbit establishes Thailand presence as Bitkub faces technical hurdles

January 22, 2021
UBS economist discuss why cryptos can’t be “actual currencies”

UBS economist discuss why cryptos can’t be “actual currencies”

January 22, 2021
3 Great Places to Buy Bitcoin In 2021 1

3 Great Places to Buy Bitcoin In 2021

January 22, 2021
SEC adds 8 crypto companies to its warning list PAUSE

SEC adds 8 crypto companies to its warning list PAUSE

January 22, 2021
30 Japanese arrested over NEM token stolen from Coincheck in 2018

30 Japanese arrested over NEM token stolen from Coincheck in 2018

January 22, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 2

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.