Saudi Arabia, UAE Choose R3 Corda
Speakers from the Central Bank of Saudi Arabia (SAMA) and the Central Bank of the UAE highlighted their CBDC plans and pilots during Corda Day Middle East, which was held on May 11th, 2023 in Dubai, UAE. Both Central Banks are collaborating with R3 Corda on CBDC pilot programmes, SAMA in its sandbox and UAE Central Bank in their R&D centre.
According to R3, the event brought together financial service leaders, technologists, and Corda fans from all across the region and the world. H.E. Saif Humaid Hamad Al Dhaheri, Assistant Governor – Strategy, Financial Infrastructure, and Digital Transformation, Central Bank of UAE, and Mr. Mohsen AlZahrani, Virtual Assets and CBDC programme Lead, Saudi Central Bank – SAMA, were among the notable speakers, as was Richard G Brown, Chief Technology Officer, R3.
UAE is collaborating with R3 Corda on a prototype for the digital dirham, which is now being tested in their R&D centre.
(With inputs from Shikha Singh)
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