TITLE: Central Bank of UAE Completes Project Aperta for Secure Cross-Border Open Finance
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On June 17, 2026, the Central Bank of the UAE (CBUAE) announced the successful completion of Project Aperta, an international initiative led by the Bank for International Settlements (BIS) to enable secure and interoperable cross-border open finance. The project establishes a trusted interoperability network linking the open finance networks of multiple jurisdictions, supporting the UAE's efforts to strengthen global financial connectivity and facilitate cross-border financial services.
The CBUAE developed Project Aperta in collaboration with the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Central Bank of Brazil, and the Financial Conduct Authority (FCA) of the United Kingdom. The project also involved participation from the Global Legal Entity Identifier Foundation, the International Chamber of Commerce Digital Standards Initiative, and the Hong Kong University Standard Chartered Foundation FinTech Academy. The initiative demonstrated how domestic open finance networks can be connected through a neutral interoperability layer without altering national regulatory frameworks. Project Aperta tested two practical use cases across five economies: cross-border data portability, enabling faster onboarding and reduced manual checks through secure sharing of verified business information; and trade finance lifecycle management, showing how structured digital data can streamline processes from contract issuance to final settlement. The tests confirmed that cross-border data exchange can be achieved securely while preserving domestic rules, security requirements, and supervisory oversight. The project highlighted potential to reduce duplication, compliance costs, and onboarding times for small and medium-sized enterprises engaged in international trade.
Khaled Mohamed Balama, Governor of the CBUAE, said the project reflects the UAE's vision to position itself among the world's leading central banks in promoting monetary and financial stability. All architectural blueprints, translation protocols, trust framework designs, reference code, and data models developed under Project Aperta have been released as open, reusable public goods, enabling other jurisdictions to adopt and build upon the work.