UAE Successfully Completes First Digital Dirham CBDC Transaction

The UAE has successfully executed the first transaction using its Digital Dirham, a central bank digital currency (CBDC), via the mBridge platform. This milestone, part of a pilot program focused on government and private sector integration, showcased the system’s efficiency with the transaction settling in under two minutes. The Central Bank of the UAE plans to implement the Digital Dirham gradually, initially focusing on payment functions only. ]