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Sheikh Bandar, the governor of the central bank of Qatar, has outlined the country’s progress with its central bank digital currency (CBDC). Qatar’s plans for a CBDC align with other central banks globally that have announced plans to launch digital currencies pegged to their fiat currencies . Qatar’s central bank’s plan for a CBDC Numerous central banks are taking the journey towards CBDCs globally, and Qatar is among the countries joining the space. Bandar recently appeared in an interview saying that a Qatar CBDC was on the way. However, the country would thoroughly assess the benefits and costs of such a digital asset before it is launched. “Many central banks are now considering to issue CBDC, and we are not an exception to that. But we are still in foundation stage. We are evaluating the pros and cons of issuing CBDC and to find the proper and the right technology and platform to issue our CBDC,” the governor added. Buy Bitcoin No...

The blockchain-based national eKYC banking platform is aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing. Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives.  On March 2, PBA signed the project contract for developing Pakistan’s first blockchain-based national eKYC (electronic Know Your Customer) banking platform, reported Daily Times. The move was aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing — an initiative led by the State Bank of Pakistan (SBP). The member banks include international establishments such as the Industrial and Commercial Bank of China, Citi bank and Deutsche Bank. Moreover, the blockchain platform will improve operational efficiencies — primarily aimed at improving customer experience during the onboarding process. A momentous ...

Source: FTX Major crypto exchange FTX has announced it has gone live as the first institution of this type which secured a full license to operate in the United Arab Emirates (UAE). "As the first licensed crypto exchange in the UAE, we're super excited to expand our operations and grow FTX's presence in the region," the business said in a tweet.  The exchange will operate in the region under the name of FTX MENA FZE. The entity also said that, during its minimum viable product (MVP) phase, its "services are only available to qualified retail investors, accredited investors and institutions". "This enables us to deploy regulated crypto derivatives products and trading services to qualified institutional investors across the region," according to the company.  In September 2022, rival major exchange Binance announced it received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) after...