UAE and Saudi Arabia, fintech cross-border settlements with a view to the regulatory framework

13.Dec.2018Press release Infocoin

The two countries have decided to facilitate mutual trade relations using a common digital currency (supported by fiat currencies of the two countries) according to a “proof of concept” system. Tuqa Khalid reports that on the Reuters website, quoting the governor of the central bank of the United Arab Emirates. The same institution is also developing a strategic plan for a fintech regulatory framework.