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⭐️ StellarBlock: Project Aber ⭐️

Verified Asset ✅

⭐️ Project Aber is an initiative launched by the central banks of Saudi Arabia and United Arab Emirates to explore the viability of a single dual-issued digital currency as an instrument of domestic and cross-border settlement between the two countries.

*? *The high-level objectives of the initiative are:

◽️To explore, experiment, and gain a deeper understanding of distributed ledger technology (DLT) and analyse its maturity;
◽️To explore an alternative DLT-based cross-border payment solution that can overcome inefficiencies in existing cross-border interbank payment approaches;
◽️To understand and experiment with the dual issuance of a central-bank digital
currency;
◽️Benchmark findings against those of other central banks.

*✍️ *Saudi Central Bank (SAMA) and Central Bank of the UAE (CBUAE) announced a joint digital currency initiative in January 2019. It was named Project Aber, which literally translates to ‘one who crosses boundaries’ highlighting the cross-border focus of the project.

⬜️ Asset name: Project Aber

⬜️ Domain name: projectaber.one

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