CBUAE: Introduces Innovative “Digital Dirham” Strategy for Central Bank Digital Currency
- CBUAE has commenced the implementation of its CBDC Strategy as part of its FIT Programme
- G42 Cloud and R3 have been engaged as the infrastructure and technology providers for the CBDC implementation
- The first phase of the CBDC Strategy will comprise three major pillars, including the soft launch of mBridge
- CBDC is a risk-free form of digital money issued and guaranteed by the central bank, serving as a secure
- The implementation of CBDC will address the pain points of domestic and cross-border payments, enhance financial inclusion
- The launch of the CBDC strategy marks a key step in the evolution of money and payments in the country
