Kiffmeister’s #Fintech Daily Digest (02/24/2022)*

The Arab Monetary Fund issues practical CBDC guidance for Arab central banks

The Arab Monetary Fund (AMF) published a central bank digital currency (CBDC) to support Arab central banks exploring CBDCs that matches best each jurisdiction and their central bank’s objectives, available resources, and targeted implications. The framework takes into consideration country-specific conditions, infrastructure and as well as respective legal and regulatory frameworks. [Read more]

The AMF and UnionPay collaborate to support the growth of cross-border payments

The AMF and China’s UnionPay have signed a memorandum of understanding to establish cooperation and create interoperability between the AMF’s Buna cross-border and multi-currency payment system) and UnionPay. Buna and UnionPay will be connecting their payment systems to introduce to their network of participants, fast, efficient, and multi-currency cross-border payment solutions. [Read more]

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In Q2 2022, the CBDCTT will launch the OpenCBDC Sandbox for evaluating, studying and learning from the OpenCBDC Boston Fed and the MIT Digital Currency Initiative open source CBDC platform. It will provide easy to use access, with the CBDCTT providing training and all updates. It’s available exclusively to central banks and official institutions. [Read more]