After six months of testing, seven leading UAE banks and Avanza Innovations launched UAE Trade Connect (UTC), a new blockchain platform to support financial institutions fighting against fraud and duplication. The platform co-created by Etisalat Digital has officially gone live on Monday.
The steering committee for the platform consists of the Central Bank of the UAE, Commercial Bank International (CBI), Commercial Bank of Dubai (CBD), Emirates NBD, First Abu Dhabi Bank (FAB), Mashreq Bank, National Bank of Fujairah (NBF), and RAKBANK.
