CBI partners with Zumo 31 October 2024UAE Reporter: Jack McRae
Image: CBI
Commercial Bank International (CBI), has signed a memorandum of understanding (MOU) with Zumo.
The partnership will enable both firms to explore the tracking of digital asset sustainability. They say this will mark a “significant step in CBI’s commitment to furthering innovation and offering cutting-edge digital solutions to its clients.”
The partnership aims to support the UAE’s ambition to integrate blockchain into its financial ecosystem.
Giovanni Everduin, chief strategy and innovation officer of CBI, says: “We look forward to collaborating with Zumo to become one of the first banks in the world to provide carbon footprint insights with carbon offsetting for digital assets.
“This revolutionary capability will ensure that, as digital assets become further embedded within the financial ecosystem, customers and institutions have the required tools and data to ensure their sustainability goals are tracked and achieved.”
Clark Povey, chief operating officer of Zumo, adds: “Our collaboration with CBI will see Zumo’s pioneering digital assets and blockchain technology complement CBI’s financial expertise and innovative approach to drive sustainability.”
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Image: CBI 