Yesterday First Abu Dhabi Bank (FAB) said it completed pilots of JP Morgan’s Coin Systems for blockchain-based payments. Last month, Bahrain’s Bank ABC was the first to soft launch blockchain-based payments using the same solution. In both cases, the focus is instant cross border payments.
However, the UAE’s FAB is at an earlier stage in the collaboration and hasn’t shared many details. It said it plans to continue exploring the opportunities offered by JP Morgan Coin Systems.
Meanwhile, Bank ABC started by using the DLT solution for Bahrain and US payment corridors, with plans for the UK, Singapore and Hong Kong.
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