UAE and China Lead the Way with $13.6M CBDC Breakthrough! The
United Arab Emirates and
China have just made history in the world of digital finance, as they successfully conducted their first-ever cross-border central bank digital currency (
CBDC) transaction. And it's no small change – we're talking about a whopping
$13.6 million!
This groundbreaking payment took place during the grand celebration of the Central Bank of UAE's 50th anniversary in Abu Dhabi, where high-ranking officials from both nations gathered to witness this momentous occasion.
Thanks to the innovative m-CBDC Bridge platform, digital dirhams and digital yuan were seamlessly exchanged, showcasing the immense potential of
digital currencies in facilitating global financial transactions.
The event was nothing short of spectacular, with nearly a thousand attendees and esteemed guests like Vice President Mansour bin Zayed Al Nahyan and Chinese Ambassador Zhang Yiming gracing the occasion.
In a true display of collaboration, Mansour and Zhang jointly initiated this landmark payment, officially launching the m-CBDC Bridge's real-time capabilities. It's a significant step forward after the successful pilot phase earlier this year.
