UAE Launches Digital Dirham Pilot, Settling First CBDC Transaction
UAE Launches Digital Dirham Pilot, Settling First CBDC Transaction
The United Arab Emirates (UAE) has taken a significant step into the realm of central bank digital currencies (CBDCs) by initiating live testing of its digital dirham. A government transfer utilizing the digital currency successfully settled in under two minutes, marking the first recorded transaction in the nation's pilot program. This move positions the UAE as a prominent player in the global CBDC race.
The United Arab Emirates has taken a clear step into live testing of a central bank digital currency. A UAE government transfer using a digital dirham took place this week, and officials say the payment settled in less than two minutes. This marks the first recorded transaction in the nation’s pilot program. Related Reading: Bitcoin […]