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Dubai: Dubai Economy and HSBC have strengthened the UAE KYC (Know Your Customer) Blockchain Consortium with HSBC becoming the fourth founding member to go live on the platform. The UAE KYC Blockchain Platform is a national ecosystem for the exchange of verified “know your customer” data between licensing authorities and financial institutions. This initiative was launched in February 2020 by Dubai Economy in partnership with founding member banks. The platform comprises members such as Emirates Islamic, Emirates NBD, Commercial Bank of Dubai, Abu Dhabi Commercial Bank, HSBC, RAKBANK and Mashreq Bank as well as Dubai Economy and DIFC. The initiative is powered by norbloc, a global leader in enterprise blockchain technologies that enable sharing of regulated data.

United arab emiratesAbu dhabi commercial bankMashreq bankAbdulfattah sharafOmar al mehairiBank middle eastHead of internationalYour customer blockchain consortiumDubai international financial centreDubai economyKnow your customerBlockchain consortiumImage creditEmirates islamicCommercial bankDoing business