UAE and China Launch Direct CBDC Payments and Jisr Platform
Sheikh Mansour bin Zayed has inaugurated the 'Jisr' platform, marking a milestone in cross-border digital currency transactions between the UAE and China. The platform enables secure, round-the-clock money transfers for trade, scholarships, and remittances, leveraging Central Bank Digital Currency (CBDC) technology.
The collaboration between the Central Bank of the UAE and the People's Bank of China introduces the 'Jaywan-UnionPay' prepaid card, facilitating local transactions within the UAE and global access via UnionPay's network. This initiative underscores a strategic push to modernize financial infrastructures and deepen bilateral ties.
At the launch event in Abu Dhabi, Sheikh Mansour executed the first interbank CBDC payment between the two nations. The move signals growing institutional adoption of digital currencies, with potential Ripple effects across emerging markets.
