Al-Mashriq partners with City and SWIFT for quick cross-border payments
Emirates Bank announced the successful completion of a transaction through a blockchain-based ledger via SWIFT, in collaboration with Citibank, with the goal of accelerating and simplifying cross-border payments around the clock, throughout the week. This initiative is part of efforts to develop a faster and more efficient international payments infrastructure using tokenized deposits that connect financial messaging infrastructure. It represents a significant step toward linking traditional payment systems with modern digital systems, aiming to improve liquidity management and expedite the flow of funds across different markets.
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