The central banks of the United Arab Emirates and Saudi Arabia reported that the pilot launch of the joint digital currency confirmed the high potential of the technology to improve payment systems.
According to the published report, at the end of the yearTesting of the Aber project, both countries concluded that the concept was viable and could significantly improve the efficiency of interbank settlements at the domestic and international level.
The new system was tested with the participation of commercial banks, which notedIn addition to the technical side, the researchers also looked at some of the mechanisms for closing settlements and blockchain operations, possible legal and political problems, and operational risks.
Central banks plan to continue experimenting with digital currencies to explore the concept of THE CBDC, secured by fiat, as well as asset tokenization tools.
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