Watch: Arab Jordan Investment Bank transforms money transfer with blockchain
AJIB deploys Oracle Blockchain Cloud Service enabling the bank to make electronic fund transfers simpler by reducing cost, increasing efficiency and security
Arab Jordan Investment Bank (AJIB) has set the blockchain ball rolling on in the region, with the bank pioneering blockchain deployments in banking in the Middle East.
With Oracle Blockchain Cloud, AJIB has launched a blockchain platform to handle interbank money transfers.
The initial deployment was a money transfer between AJIB subsidiaries between Jordan and Cyprus. The project soon moved to pilot stage with the first money transfer between Jordan and Cyprus carried out in July 2018.