All by tag: CBDC

The UAE Central Bank and Ministry of Finance have completed the first transaction in digital dirham, testing the infrastructure’s readiness for the launch of a national digital currency

In this article, we explain in simple terms why CBDCs are being created, how they work, and how they differ from cryptocurrencies, stablecoins, and electronic money.

Plans are in place to create a secure payment platform with offline transaction capabilities

Experts believe that this will increase legal clarity and investor confidence

The project will explore 24 use cases for digital assets

Using the asset for citizens will not become mandatory

The initiative aims to expand the global influence of the digital yuan

The authorities started testing the asset in retail and wholesale payments back in 2022

The launch of the asset is designed to reduce the bloc’s dependence on external payment systems

The department is concerned about the large volume of purchases of Treasury bills by issuers of such assets

The regulator will focus on developing and launching a wholesale version of the digital national currency

The initiative is part of the Rialto project, implemented jointly with a number of central banks