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UAE, Saudi Arabian central banks release report on Project Aber CBDC trial

Published 11/29/2020, 10:42 AM
Updated 11/29/2020, 12:20 PM
UAE, Saudi Arabian central banks release report on Project Aber CBDC trial

Central banks from two of the most powerful economies in the Middle East released a report today on a yearlong joint central bank digital currency (CBDC) project — and results speak glowingly of blockchain technology.

First announced in January of 2019, Project Aber was a joint effort between the United Arab Emirates and Saudi Arabia to establish a “proof of concept” designed to “contribute in the body of knowledge in CBDC and DLT technologies.”

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