A government-developed cryptocurrency isn't unheard of -- Venezuela controversially launched "Petro" in 2018 in an effort to get around sanctions. Now, it's Saudi Arabia's and the UAE's turn to launch a cryptocurrency of their own: one they jointly developed to work between both countries. The nations, which are close allies and two of the richest in the world, have even already started testing their digital currency. This pilot program will help them see if the blockchain technology truly can enable seamless cross-border transactions with lower remittance costs. It will also help them figure out how a state-owned cryptocurrency will impact monetary policies.