UAE's central bank pilots CBDC transactions

10/27 08:44

According to The Peninsula, the Central Bank of the United Arab Emirates (CBUAE) said on Wednesday it has completed the world's largest pilot of central bank digital currencies (CBDC) transactions, with other regulators including the People's Bank of China's Digital Currency Institute. "The project mBridge demonstrated faster, cost effective and secure cross-border monetary settlements using central bank money, identified as a G20 economic priority," CBUAE said, adding it would be positive for regional and international trade, as well as participating entities. The pilot was part of Project mBridge, which experiments with cross-border payments using a common platform based on distributed ledger technology (DLT) which central banks can use to issue and exchange their CBDCs.
bullishbullishbullish1bearishbearishbearishBearish1Share
DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

Related Articles

  • Image

    Iran’s $1 toll could cost ships 281 Bitcoin each through Strait of Hormuz

  • Image

    Sharplink stakes 511 Ethereum in a week – Breaking down its ‘ETH earns more ETH’ approach

  • Image

    Ethereum weakens as U.S. investors remain bearish: Will ETH fall below $2K?

All Comments0LatestHot

avatar
LatestHot

Related Articles

  • Image

    Iran’s $1 toll could cost ships 281 Bitcoin each through Strait of Hormuz

  • Image

    Sharplink stakes 511 Ethereum in a week – Breaking down its ‘ETH earns more ETH’ approach

  • Image

    Ethereum weakens as U.S. investors remain bearish: Will ETH fall below $2K?