DIFC, Mashreq launch instant bank account

DIFC, Mashreq launch instant bank account

The Dubai International Financial Centre (DIFC), and Mashreq on Sunday announced the region's first blockchain data sharing platform, now in production, to support licenced businesses and corporations instantly opening digital bank accounts.. Growing from an initial "Proof of Concept" to confirm the possibility of using cutting-edge blockchain technology, the KYC platform is now ready and open to all licencing authorities and financial institutions in the UAE to join DIFC and Mashreq's live blockchain experience.. The initiative provides financial institutions and businesses with a platform to seamlessly undertake operations," said Arif Amiri, CEO, DIFC Authority.. This first product for opening digital accounts for businesses and corporations in the region provided through the partnership between DIFC and Mashreq is a testament to the great potential of using blockchain technology..