Central Bank of Saudi Arabia Transfers Funds to Local Banks Over Blockchain By Cointelegraph

Central Bank of Saudi Arabia Transfers Funds to Local Banks


Central Bank of Saudi Arabia Transfers Funds to Local Banks Over Blockchain

The Saudi Arabian Monetary Authority (SAMA), the country’s central bank, announced that it used blockchain technology to deposit funds to local banks.

An official statement published by SAMA said that the funds were a part of the bank’s initiative to enhance its “capabilities to continue its role in providing credit facilities.” The bank did not specify the exact amount of the fund transfer.

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