FAB completes pilot testing for blockchain-based cross-border payments

Abu Dhabi: First Abu Dhabi Bank (FAB) has announced the successful completion of pilot testing with J.P. Morgan’s Coin Systems for blockchain-based cross-border payments.

“The pilot phase demonstrated the capabilities and potential of blockchain technology in enhancing cross-border payment solutions,” the bank said in a statement on Tuesday.

FAB’s collaboration with J.P. Morgan’s Coin Systems underlines the bank’s commitment to leveraging technology for innovative payment solutions in the cross-border payments domain. FAB’s Global Transaction Banking business plans to explore further opportunities using J.P. Morgan’s Coin Systems.