Digital Dirham Makes Global Debut in Cross-Border Payment

The Vice President of the State, Deputy Prime Minister, President of the Presidential Court, Chairman of the Central Bank of the United Arab Emirates, Sheikh Mansour bin Zayed Al Nahyan, conducted the first cross-border digital currency payment operation for the central bank’s digital dirham directly with China, valued at 50 million dirhams through the “M-Bridge” platform.

Al Nahyan was briefed on the services offered by the “Ani” instant payment platform, which was launched by the Union for Payments company in October 2023. He also reviewed the Supervisory Technology Project (Soup Tech).

This action came during the celebration of the 50th anniversary of the establishment of the Central Bank at the Abu Dhabi National Exhibition Center, where a package of innovative projects implemented by the central bank’s subsidiaries was launched as part of the financial infrastructure program to accelerate digital transformation in the financial sector.

Al Nahyan emphasized the role of the Central Bank of the United Arab Emirates in consolidating financial and monetary stability and achieving effectiveness and flexibility in the financial system, as well as promoting economic growth and pushing development efforts in the country.