BankingBusiness

Alfa-Bank & First Abu Dhabi Bank: First banks in Russia and the UAE to join CLSNet

  • Emerging market leaders, Alfa-Bank and First Abu Dhabi Bank the first banks in Russia and the UAE to join CLSNet
  • Alfa-Bank and FAB agreed to initiate onboarding to CLSNet, a standardized, automated bilateral payment netting calculation service for over 120 currencies
  • CLSNet standardizes and increases the levels of payment netting in the FX market
  • Alfa-Bank, a leading Russian bank, and FAB, the UAE’s largest bank join the current CLSNet user community of global and regional banks
  • Further, Alfa-Bank and FAB are the first in their respective domiciles of Russia and the UAE joining CLSNet
  • CLSNet will allow Alfa-Bank to further develop its customer base and expand its business in the international market
Previous article
Desktop Metal: Buys EnvisionTEC, for $300M
Next article
GPS: Appoints Visa veteran Damien Gough as head of Apac
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Italy Fines Revolut €1.15M for Regulatory Violations

Revolut faces penalties due to non-compliance with Italian financial regulations. Highlights: Italy fines Revolut €1.15 million for regulatory breaches.The...
FinTech

DeFi Platform Drift Suspends Withdrawals After Crypto Hack

Drift takes precautionary measures following security breach affecting user funds. Highlights: Drift has suspended all deposits and withdrawals after...
FinTech

Cross River Bank Raises $50 Million to Accelerate Growth

The funding will enhance Cross River Bank's financial technology services. Highlights: Cross River Bank has raised $50 million in...
FinTech

Kulipa Secures $62M to Enhance Stablecoin Card Issuing Infrastructure

Funding aims to strengthen cryptocurrency card services in the growing fintech market. Highlights: Kulipa raises $62M to enhance its...