The Central Bank of the UAE (CBUAE) has announced the successful completion of Project Aperta, a major international project with the Bank for International Settlements (BIS) aimed at creating a framework for secure and interoperable cross-border open finance. The initiative positions the UAE as a key player in building the next generation of global financial infrastructure.
Quick Facts
- International project led by the Bank for International Settlements.
- Connects open finance networks across multiple jurisdictions.
- Prototype enables secure, real-time cross-border data exchange.
Connecting Global Finance from Abu Dhabi
Developed in partnership with the BIS Innovation Hub Hong Kong Centre and monetary authorities from Hong Kong, Brazil, and the United Kingdom, Project Aperta establishes a neutral interoperability network. This allows domestic open finance systems to communicate with each other without altering their national frameworks, security requirements, or supervisory rules.
The project’s breakthrough is a prototype that enables secure, real-time financial data exchange between different economies. By creating a trusted network layer, it strengthens global connectivity and gives businesses more efficient access to international markets.
Testing Real-World Use Cases
The project validated its framework by testing two practical scenarios across five economies, demonstrating its immediate potential.
The first use case focused on cross-border data portability, which allows for faster company onboarding by securely sharing verified business information, significantly reducing manual checks. The second involved trade finance lifecycle management, showing how structured digital data can streamline complex processes from contract issuance to final settlement. These tests confirmed the potential to cut duplication, lower compliance costs, and reduce onboarding times for SMEs in international trade.
H.E. Khaled Mohamed Balama, Governor of the CBUAE, said: “Project Aperta reflects our vision to position ourselves among the world’s leading central banks in promoting monetary and financial stability and supporting the UAE’s competitiveness by advancing a more connected, efficient, and trusted global financial ecosystem. By enabling the secure and seamless exchange of data, the project contributes to the development of next-generation financial services and empowers businesses and financial institutions to access global markets more efficiently.”
About Project Aperta
Project Aperta is an international initiative led by the Bank for International Settlements (BIS) to enable secure and interoperable cross-border open finance. The project developed architectural blueprints, translation protocols, trust frameworks, and data models to connect different domestic open finance networks. All materials developed under the project have been released as open, reusable public goods for other jurisdictions to adopt.
Source: Zawya
