The Pakistan Banking Association (PBA), which consists of 31 traditional banks operating in Pakistan, has signed the development of a blockchain-based platform for Know Your Customer (KYC) initiatives. These banks include international organizations such as Industrial and Commercial Bank of China, Citi bank and Deutsche Bank.
On March 2, PBA signed a project agreement to develop Pakistan's first blockchain-based national eKYC (electronic know your customer) banking platform, Daily Times reported. The move aims to strengthen anti-money laundering capabilities while combating terrorist financing, an initiative led by the State Bank of Pakistan (SBP)
