RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Cryptocurrency

Bahrain Set to Launch Blockchain Technology Initially developed by JPMorgan

Rate Captain by Rate Captain
January 10, 2022
in Cryptocurrency, Economics, News
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

BNP Paribas has joined JPMorgan’s blockchain-based network.

Tether, USDT market cap has dropped by US$10B since UST collapse

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

Bahrain has launched a blockchain technology initially developed by JPMorgan, with the Middle Eastern country focused on duplicating the digital currency created by JPMorgan.

In collaboration with JPMorgan’s and Onyx, The Central Bank of Bahrain (CBB) has efficiently deployed a test based digital payment system.

According to reports, the test run involved International bank ABC and Bahrain national aluminum smelter Aluminium Bahrain. The technology enabled Bank ABC to offset real-time payments to Alba’s counterparts in the United States using JPM Coin, a blockchain-based payments system and stablecoin quoted in  the United States dollar.

Rasheed Al Maraj, CBB governor,  said that the trial has been crucial for the government of Bahrain to address and potentially eliminate existing inefficiencies in the traditional cross-border payments industry.

Al Maraj stated “We are pleased to announce the success of this test, which is in line with our vision and strategy to develop and enrich the capabilities provided to stakeholders in the financial services sector in the Kingdom using emerging and pioneering technologies,” .

The CBB had earlier revealed plans to test  JPM Coin in May 2021, explaining  that the trial could potentially extend to the progress of  its central bank digital currency.

Previous Post

OPSN Urges Federal Government to Suspend Excise Duty

Next Post

Naira Begins the Week Frail, Trades at N568/$1 at the Parallel Market

Related News

BNP Paribas has joined JPMorgan’s blockchain-based network.

BNP Paribas has joined JPMorgan’s blockchain-based network.

by Rate Captain
May 23, 2022
0

French banking giant BNP Paribas (EPA) has joined JPMorgan's (JPM) blockchain-based network for fixed income market trading, according to a...

Tether, USDT market cap has dropped by US$10B since UST collapse

Tether, USDT market cap has dropped by US$10B since UST collapse

by Rate Captain
May 23, 2022
0

Tether, the operator of the world’s largest stablecoin USDT, has seen US$10 billion of its market capitalization shaved off since...

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Next Post

Naira Begins the Week Frail, Trades at N568/$1 at the Parallel Market

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BNP Paribas has joined JPMorgan’s blockchain-based network.

BNP Paribas has joined JPMorgan’s blockchain-based network.

May 23, 2022
CBN say Nigeria would reap the benefits of a rising oil price

Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

May 23, 2022

Popular Story

  • Tether, USDT market cap has dropped by US$10B since UST collapse

    Tether, USDT market cap has dropped by US$10B since UST collapse

    0 shares
    Share 0 Tweet 0
  • Experts predicts the death of Shiba Inu

    0 shares
    Share 0 Tweet 0
  • Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

    0 shares
    Share 0 Tweet 0
  • MTN Nigeria now more valuable than all Nigerian Banks combined

    0 shares
    Share 0 Tweet 0
  • Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.