{"id":32553,"date":"2020-11-30T11:37:59","date_gmt":"2020-11-30T09:37:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32553"},"modified":"2025-08-28T09:15:27","modified_gmt":"2025-08-28T06:15:27","slug":"uae-and-saudi-arabia-assess-cbdc-potential-for-cross-border-payments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uae-and-saudi-arabia-assess-cbdc-potential-for-cross-border-payments\/","title":{"rendered":"UAE and Saudi Arabia assess CBDC potential for cross-border payments"},"content":{"rendered":"<p>The UAE\u2013Saudi mutual digital currency, issued under the Aber project, demonstrated the technical viability of cross-border payments via blockchain, according to a joint regulators\u2019 report.<\/p>\n<p><!--more--><\/p>\n<p>The two countries announced cooperation in studying central bank digital currency (CBDC) and distributed ledger technology (DLT) in January 2019. The study involved analysing a mutual asset to be used in financial settlements between Saudi Arabia and the UAE via blockchain.<\/p>\n<p>The authors noted a &#8216;significant superiority&#8217; of the issued CBDC over centralized payment systems in terms of architectural resilience.<\/p>\n<blockquote>\n<p>&#8220;All key requirements were met, including the complex privacy and decentralisation requirements, as well as requests related to mitigating economic risks,&#8221; the project organisers concluded.<\/p>\n<\/blockquote>\n<p>They recommended integrating distributed ledger technology into existing systems to enhance their security. Researchers also proposed inviting Aber representatives from other regions and adding additional assets.<\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View Aber Report 2020 - En_4 on Scribd\" href=\"https:\/\/www.scribd.com\/document\/486344277\/Aber-Report-2020-En-4#from_embed\">Aber Report 2020 \u2014 En_4<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_11304\" class=\"scribd_iframe_embed\" title=\"Aber Report 2020 - En_4\" src=\"https:\/\/ru.scribd.com\/embeds\/486344277\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-CpXRUFUVTHCT1Z2XLnel\" width=\"100%\" height=\"600\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"0.7055599060297573\"><\/iframe><\/p>\n<p>In June 2020, Saudi Arabia&#8217;s financial regulator used blockchain to boost liquidity in banks.<\/p>\n<p>Follow ForkLog on VK for news!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UAE\u2013Saudi mutual digital currency, issued under the Aber project, demonstrated the technical viability of cross-border payments via blockchain, according to a joint regulators&#8217; report.<\/p>\n","protected":false},"author":1,"featured_media":32554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1368,42],"class_list":["post-32553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-saudi-arabia","tag-uae"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32553"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32553\/revisions"}],"predecessor-version":[{"id":32555,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32553\/revisions\/32555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32554"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}