UAE Completes First Government Transaction Using Digital Dirham CBDC
The UAE has marked a historic milestone in its financial transformation with the successful completion of its first government transaction using the Digital Dirham, the nation's central bank digital currency (CBDC). The transaction, processed through a cutting-edge settlement system, underscores the UAE's readiness for broader CBDC deployment.
Ministry of Finance and Dubai Finance officials confirmed the breakthrough, highlighting its significance for the country's digital finance ambitions. The two-minute settlement time demonstrates technical proficiency, aligning with the Central Bank of the UAE's roadmap for full CBDC rollout.
This development follows the UAE's earlier cross-border CBDC test via mBridge in collaboration with China and other international partners. The Digital Dirham now emerges as a cornerstone of the nation's Financial Infrastructure Transformation Program.
