Saudi, UAE Central Banks Team Up to Test Cryptocurrency

Coindesk -------- The central banks of the United Arab Emirates and Saudi Arabia are reportedly launching a pilot initiative that will see the two institutions test a new cryptocurrency for cross-border payments. Regional news sources such as The National and Gulf Digital News report that Mubarak Rashid al-Mansouri, the UAE central bank's governor, unveiled the initiative at a meeting of the Arab Monetary Fund (AMF). Though a press release tied to the Dec. 13-14 meeting does not directly relate to cryptocurrency, it does reference that financial technology topics more generally will be up for discussion among the group of central bankers and financial regulators. To learn more click on the picture below to read the article.