Japan has announced plans to resolve the legalities surrounding the issuance of its Central Bank Digital Currency (CBDC) by the third quarter of 2024. Concurrently, the United Arab Emirates (UAE) has successfully conducted its first digital currency transaction using the mBridge CBDC platform, completing a payment to China. This inaugural transfer marks a significant step in the UAE's de-dollarization efforts. The UAE, a new member of the BRICS group since 2024, is moving towards facilitating payments outside the traditional dollar system. The first cross-border payment using the Digital Dirham has been completed, showcasing the country's commitment to advancing its digital currency initiatives.
Dedollarization: the central bank of new BRICS member UAE has put in place a platform to pay China in Digital Dirham, bypassing the dollar, with the first transaction occuring yesterday. https://t.co/3uD6gL9QFQ
🇨🇳🇦🇪‼️🚨 BREAKING: First payment between China and UAE in Digital Durham was made! -> UAE is a BRICS member since 2024 and already facilitating payments outside the dollar. 📝Details: The first cross-border payment using the Digital Dirham has been successfully completed by… https://t.co/03o7kh406U
De-dollarization news: - UAE completes first digital dirham payment to China https://t.co/DUwFgH6XO4
📣 Latest News: UAE makes first digital dirham transfer via mBridge CBDC platform #news #cryptonews #crypto
📣 Latest News: Japan to resolve CBDC issuance legalities by Q3 2024 #news #cryptonews #crypto