CBI Bank, one of the leading financial institutions in the VAE, cooperates with Kima Network, decentralized settlement protocol, to improve cross-border financial transactions using blockchain-based settlement technology. The collaboration combines the bank infrastructure of CBI Bank with the interoperability protocol of Kima, with the aim of making international payments faster, safer and in a consistent financial regulations.
Through this partnership, CBI Bank will use the Kima blockchain system to arrange cross-border payments immediately and immediately. This removes delays and lowers the costs related to traditional transaction methods. The system also makes real-time foreign exchange arrangements possible and gives users access to both digital and trandfi services within a single, regulated interface.
The companies regard the partnership as a step towards a broader acceptance of such solutions in the global banking system and an improvement in the quality of cross -border services for customers.
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