As we enter a new period of growth and expansion, our core focus on fintech and blockchain are major steps on our journey towards transforming the future of finance." Reportedly, the network will use DIFC-incubated fintech firm Norbloc's blockchain platform. While Gowling WLG drafted the legal agreements, Deloitte supported Mashreq with governance and program management. The KYC platform is the newest blockchain-based initiative to be released as part of the UAE's Emirates Blockchain Strategy 2021. According to media reports, Dubai Economy (Department of Economic Development – Government of Dubai), along with Emirates NBD, Emirates Islamic, HSBC, RAKBANK, Abu Dhabi Commercial Bank (ADCB) and Commercial Bank of Dubai are in a blockchain-based consortium for sharing of verified KYC data between banks and licensing authorities in the UAE.