CBI Bank, one of the leading financial institutions in the UAE, has partnered with Kima Network, decentralized settlement protocol, to improve cross-border financial transactions by using blockchain-based settlement technology. The collaboration combines CBI Bank’s banking infrastructure with Kima’s interoperability protocol, aiming to make international payments faster, more secure, and compliant with financial regulations.
Through this partnership, CBI Bank will use Kima’s blockchain system to settle cross-border payments directly and instantly. This removes delays and lowers costs associated with traditional transaction methods. The system also allows real-time foreign exchange settlements and gives users access to both digital and TradFi services within a single, regulated interface.
The companies view the partnership as a step toward broader adoption of such solutions in the global banking system and an improvement in the quality of cross-border services for clients.
Image: Freepik
Read the full article here
