Qatar Central Bank (QCB) has launched the Digital Currency Project, which aims to settle high-value payments, with a group of local and international banks.
The project will focus on QCB's digital currency applications, to increase access to the capital markets of banks operating in the country, enhance local settlement, as well as improve the efficiency of securities transactions. The project, which will enter its first pilot phase extending to October 2024, aims to achieve a set of basic objectives, foremost of which is to take advantage of artificial intelligence technologies, decentralized ledger technology, and emerging technologies, and to create strong foundations to enhance liquidity by expanding participation in financial market facilities, while taking into account aspects related to information security during the implementation of the project.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
