Saudi Arabia’s Central Bank Signs Deal With Rippleby Forbes Middle East Forbes Middle East - Business News
SAMA is the second central bank globally to introduce Ripples blockchain-based cross-border payments platform, following the Bank of Englands pilot project in 2017. Recommended Features
Review on Saudi Arabia’s Central Bank Signs Deal With RippleThe Saudi Arabian Monetary Authority (SAMA) has signed an agreement with the U.S.-based blockchain company Ripple to help participating banks in the kingdom use its enterprise software to instantly facilitate cross-border payments.
The pilot program is the first of its kind to be launched by a central bank, the company said in a statement. The central banks partnership with Ripple will potentially transform how banks in the Kingdom send money globally, while allowing bank customers access to faster, cheaper and more transparent cross-border transactions. As part of the deal, SAMA will also provide interested banks in Saudi with program management and training.
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Created on Feb 19th 2018 06:12. Viewed 368 times.
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