UAE Completes First Cross-Border Payment with Digital Dirhams
- The UAE government executed its first transaction using digital dirhams, a CBDC.
- This transaction was a cross-border payment to China.
- The process utilized the Mbridge platform for execution.
- UAE Vice President Sheikh Mansour highlighted the potential for new cooperation opportunities.
The UAE’s successful completion of a cross-border payment using digital dirhams marks a significant step in their adoption of CBDC technology, potentially enhancing international financial collaboration.
Utilizing the Mbridge platform, this landmark transaction to China demonstrates the UAE’s commitment to advancing digital currency use in global trade. Source
