First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), organized a pilot study using JP Morgan’s Coin Systems project.
First Abu Dhabi Bank, which has total assets of 312 billion dollars. for blockchain-based cross-border payment transactions It used JP Morgan’s Coin Systems system and successfully completed its pilot study.
Coin Systems, developed by the Onyx team at JP Morgan, is used to instantly transfer and exchange money through a distributed ledger.
According to the statement made by FAB Pilot study completed without any problemsblockchain technology improving cross-border payment processing demonstrated its potential in
Operating in 20 markets around the world, First Abu Dhabi Bank is interested in the Coin Systems system offered by JP Morgan. to do some work in the future is evaluating.
FAB does not impose any restrictions on its customers trading cryptocurrencies. Customers can transfer funds to cryptocurrency exchanges using their bank accounts.