Leaders in the Middle East, Saudi and UAE confirm Aber cryptocurrency

Saudi Arabia and UAE confirm discussions of Aber cryptocurrency, after initial plans set out in January.
The two are making a push to strengthen their interbank trading facilities.

Ken Chigbo Independent Analyst

A joint cryptocurrency project between Saudi Arabia and UAE Aber digital currency will soon be launching. Prince Mohammed bin Salman, the crown prince of Saudi Arabia, recently went over to the United Arab Emirates (UAE), as part of an official visit.

It was set with the focus around the discussions of many prominent regional issues, joint policy measures, in addition to planning on a local Aber digital currency.

The partnering together will be serving as the foundation between the two Arabian monarchies, as they look set to be focusing on strengthening the interbank trading facilities. Earlier this year in January, details of Aber digital currency started emerging when the two-state entities, namely the Saudi Arabian Monetary Authority (SAMA) and the United Arab Emirates Central Bank (UAECB), started discussions on this matter.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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