UAE’s Central Bank nears launch of digital Dirham
The Central Bank of the United Arab Emirates (CBUAE) has signed an agreement with Abu Dhabi-based G42 Cloud and digital finance services provider R3 to be the infrastructure and technology providers for the CBDC implementation.
This is a crucial milestone in the development of the digital dirham and is expected to address the challenges of domestic and cross-border payments, while also promoting financial inclusion and supporting the country’s goal of becoming a cashless society.