The Central Bank of the United Arab Emirates (CBUAE) has announced the promotion of open cross-border financial cooperation "Project Aperta" by publishing an announcement.
Publish dateSaturday 19 October 2024 - 14:45
According to Amac News: The announcement of the Central Bank of the UAE states that the purpose of promoting this project is to connect the open financial infrastructure of different jurisdictions to advance the cross-border interoperability of the UAE for financial institutions and businesses through a reliable network.
The CBUAE said it will join forces with the Bank of Hong Kong Central Bank for International Settlements, Central Bank of Brazil, UK Financial Conduct Authority, Hong Kong Monetary Authority, Global Legal Entity Recognition Foundation, International Chamber of Commerce Digital Standards.
The Aperta project is a prototype of a trusted network that connects open financial infrastructures from different jurisdictions.
The first use case of the Aperta project will be explored in trade finance for small and medium-sized enterprises (SMEs).
The CBUAE said it will join forces with the Bank of Hong Kong Central Bank for International Settlements, Central Bank of Brazil, UK Financial Conduct Authority, Hong Kong Monetary Authority, Global Legal Entity Recognition Foundation, International Chamber of Commerce Digital Standards.
The Aperta project is a prototype of a trusted network that connects open financial infrastructures from different jurisdictions.
The first use case of the Aperta project will be explored in trade finance for small and medium-sized enterprises (SMEs).
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Source : news agency wam
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