Saudi and UAE Central Banks joined forces to test crypto

The Central Banks of two countries plan to use cryptocurrency in cross-border payments in the future
14 December 2017   1256

The National and Gulf Digital News report that Mubarak Rashid Al-Mansuri, the head of the Central Bank of the UAE, presented the initiative at the meeting of the Arab Monetary Fund (AWF). The meeting does not apply directly to the crypto currency, however, although the financial technologies of the topic as a whole will be discussed among a group of central banks and financial regulators.

Al-Mansuri highly appreciated the efforts to develop block-technologies.

This is the first times [sic] the monetary authorities of two countries cooperation to use blockchain technology. As quoted by The National, al-Mansouri described the project as a "digitisation of what we do already between central banks and banks.

Mubarak Rashid Al-Mansuri

Head, Central Bank of the UAE

Attraction of the central bank of Saudi Arabia is a notable event in view of the fact that the institution has not commented on the technology so far and did not indicate that it is studying potential cases of its use.

On the contrary, the UAE is home to a number of private and public sector initiatives, including the Dubai Global Council for Blockchain. A number of financial institutions have explored the use of technology in recent months, including Emirates NBD, which develops blocking services to check bank checks.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   332

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.