Saudi Crown Prince visits UAE to formally discuss digital currency plans

According to Cointelegraph, Saudi Arabia ’s Crown Prince Mohammed bin Salman visited the UAE on November 27 to agree with Sheikh Mohamed bin Zayed al Nahyan, deputy commander-in-chief of the UAE Armed Forces, on four new policy partnerships, including discussion figures in the agenda Joint policy measures including monetary plans. The measure will launch a digital currency to facilitate interbank transactions between the two countries. It is reported that in January 2019, the Saudi Arabian Monetary Authority (SAMA) and the UAE Central Bank (UAECB) jointly launched Aber, a digital currency project designed to promote cross-border settlement between the two countries.