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UAE Central Bank, Saudi Arabia to Develop Joint Cryptocurrency for Interbank Transactions

The United Arab Emirates’ (UAE) central financial institution is participating with the Saudi Arabian Monetary Authority (SAMA) to factor a cryptocurrency approved in cross-border transactions between the 2 nations. English-language Dubai-based media outlet GulfNews reported in this collaboration on Dec. 12. Mubarak Rashed Al Mansouri, the governor of the UAE’s …

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