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Dubai Economy and HSBC Updated the UAE KYC Blockchain Platform

Published 06/30/2021, 11:30 AM
Dubai Economy and HSBC Updated the UAE KYC Blockchain Platform

  • Dubai Economy and HSBC have strengthened the UAE KYC Blockchain Consortium
  • This will facilitate the instant opening of bank accounts for investors

According to Dubai Media Office, Dubai Economy and HSBC have strengthened the UAE KYC Blockchain Consortium. By doing this, HSBC became the fourth founding member to go live on the platform.

The UAE KYC Blockchain Platform is a national ecosystem for the exchange of verified “know your customer” data. More so, it is the data between licensing authorities and financial institutions.

Dubai Economy in partnership with founding member banks launched this market-leading in February 2020. Norbloc is the company behind it. To note, norbloc is a global leader in enterprise blockchain tech. It enables sharing of regulated data.

To announce the news, the Director of Development and Follow-up Division in BRL sector, Dubai Economy, Omar Al Mehairi, said,

Dubai Economy is delighted with HSBC going live on the UAE KYC Blockc...

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