Central Bank of Saudi Arabia Will Place Liquid Funds In Local Banks Using Blockchain
The Saudi Arabia Monetary Authority (SAMA), the central bank of the country, announces that it uses blockchain technology to place funds in local banks. According to the official statement these funds are part of the bank’s initiative to expand its ability to continue to play a role in the provision of credit lines. The exact amount of funds are not specified.
Today it also became known that a large Turkish bank has completed the first international blockchain-based trade finance transaction. Another report says that nearly 40% of fintech firms operating in Hong Kong use DLT.
Image courtesy of Blocksats
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