CBI Bank, one of the UAE’s leading financial institutions, is partnering with Kima Network’s decentralized settlement protocols to improve cross-border financial transactions using blockchain-based settlement technology. The collaboration combines CBI Bank’s banking infrastructure with Kima’s interoperability protocols, aiming to make international payments faster, safer and comply with financial regulations.
Through this partnership, CBI Bank will use Kima’s blockchain system to resolve cross-border payments directly and instantly. This removes the delays associated with traditional transaction methods and reduces costs. The system also allows real-time forex settlements, allowing users to access both digital and TradFi services within a single, regulated interface.
Companies view this partnership as a step towards broader adoption of such solutions in the global banking system and improving the quality of clients’ cross-border service.
Image: Freepik