UAE Launches Digital Dirham Pilot, Marks Major Step Towards Cashless Economy

The United Arab Emirates (UAE) has taken a significant step towards a cashless economy by conducting its first government-to-government transaction using the Digital Dirham, its central bank digital currency (CBDC). This pilot implementation, utilizing mBridge – the UAE’s multi-CBDC settlement platform – showcases the country’s readiness for widespread CBDC adoption.