UAE to issue digital dirham

UAE to issue digital dirham
Photo by Amir Hanna / Unsplash

The Central Bank of the United Arab Emirates (CBUAE) will create  its own digital currency. This is stated in a large policy paper by the regulator.

The first phase of the programme includes the issuance of CBDC for cross-border and domestic use.

According to the CBUAE, it will "address the problems and inefficiencies of cross-border transfers by helping to spur innovation for domestic payments.

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