Bahrain central bank trials JPM Coin
The Central Bank of Bahrain has teamed up with JP Morgan's blockchain and crypto unit Onyx to test the Wall Street giant's JPM Coin digital currency.
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Central bank of Bahrain trials JPMorgan’s blockchain and token:
JPMorgan and DBS to launch blockchain cross-border payment platform:
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Fintech will disrupt the Insurance sector: Bahrain central bank governor | Squawk Box Europe
Rasheed Al Maraj, governor of the Central Bank of Bahrain, discusses fintech and the insurance sector.
CBDCs and stablecoins: EY advises banks to ‘prepare for what’s coming’
EY advises banks to ‘prepare for what’s coming’ Big Four accounting firm EY has recommended that banks should change their regulatory perimeter to address the oncoming launches of state-backed central bank digital currencies and private stablecoins. EY’s 2022 Global regulatory outlook highlighted the need for a policy change that can help financial services firms overcome business uncertainties amid mainstreaming of digital assets and cryptocurrency. While acknowledging the uncertainty regarding the digital assets market EY recommended banking firms collaborate with regional and national regulators to foresee possible crypto adoption and proactively assess its impact on their business. The report also identified digitalization — alternative data sources and digital assets — as a potential factor to impact the regulatory environment the CBB completed a digital payments test using JPMorgan’s blockchain and cryptocurrency unit Onyx. Citing the development EY warns banks to think about the implications for their balance sheets amid the possible interaction between CBDCs and stablecoins. Conceding the difficulty in gaining regulatory clarity Central bank of Bahrain trials JPMorgan’s blockchain and token Just last week the Central Bank of Bahrain collaborated with American investment bank JPMorgan to pilot the country’s CBDC test. As Cointelegraph reported
Central Bank of Bahrain licences Sharia-compliant cryptocurrency exchange CoinMENA
At launch, #CoinMENA’s platform will be available to residents of #Bahrain, the UAE, #Saudi Arabia, Kuwait and Oman
The Central Bank of Bahrain (CBB) has issued the soon-to-launch cryptocurrency exchange, CoinMENA, with a “Crypto Asset Services Company License – Category 2”, paving the way for it to begin operations within the country.
The Bahrain-headquartered digital asset exchange received the licence after reportedly meeting all of the operational, technical, and security requirements outlined by the CBB.