The United Arab Emirates is launching a digital dirham as part of its CBDC strategy
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Czytaj więcejThe Central Bank of the United Arab Emirates (CBUAE) is inching closer to a full launch of its central bank digital currency (CBDC) - the digital dirham - for domestic and international payments.
In addition to addressing issues with domestic and international payments, the central bank said this will help improve financial inclusion as the Emirates strives to become a "cashless country". When the strategy was first unveiled on February 12, CBUAE Governor Khaled Mohamed Balama said, "The launch of our CBDC strategy marks a key step in the evolution of money and payments in the country. The CBDC will accelerate our journey towards digitalisation and promote financial inclusion."
As of March 2023, the CBDC is surveying 114 countries representing more than 95% of the world's GDP. According to the US-based think-tank Atlantic Council, 65 countries are already at an advanced stage of implementing the digital system.
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The entry of this US tech exchange into the world of cryptocurrencies could potentially change the perception of the entire sector. The giant's reputation and size in the global foreign exchange market could help boost institutional investor confidence in the crypto market and pave the way for traditional financial institutions.
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