Crypto news recap: UAE completes first CBDC payment transaction

Crypto news recap: UAE completes first CBDC payment transaction

Coming every week, the Crypto News Recap is your weekly pulse of the markets that help you track every single important news story that happened in the crypto sphere. This week, The Central Bank of UAE Completes its first real-value cross-border payment transactions, Binance to back Musk’s acquisition of Twitter with $500M, and Visa ventures into crypto products. Let’s get to it, shall we?

The Central Bank of the United Arab Emirates (CBUAE) has announced the completion of mBridge, the world's largest pilot of central bank digital currency (CBDC) transactions, in collaboration with the People's Bank of China's Digital Currency Institute. According to the institution, other partners included the Hong Kong Monetary Authority, the Bank of Thailand, and the Bank for International Settlements.