Bahrain’s Bank ABC taps JP Morgan for blockchain-based cross-border payment service
The launch arrives in tandem with the bank’s documentary trade suite, ABC Trade.
The launch arrives in tandem with the bank’s documentary trade suite, ABC Trade.
The licence allows the firm to integrate its FINX platform with multiple bank APIs.
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The test was facilitated by JP Morgan’s new blockchain-focused business unit Onyx.
Bank ABC’s deputy group CEO calls this a “landmark pilot”.
It will support retail and corporate banking, with other sectors in the future.
The Central Bank of Bahrain (CBB) has announced new regulations to create a regulatory sandbox for fintech start-ups and firms to test and experiment their banking ideas and solutions. The framework provides a “virtual space” and it is open to existing CBB licensees and other local and foreign firms. The testing duration is nine months, […]