The United Arab Emirates’ (UAE) central bank is collaborating with the Saudi Arabian Monetary Authority (SAMA) to issue a cryptocurrency accepted in cross-border transactions between the two countries. English-language Dubai-based media outlet GulfNews reported on this collaboration on Dec. 12.
Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said during a meeting on the global banking standards and regulation for the Arab region that: