UAE Central Bank starts implementing Digital Dirham strategy – The National

UAE Central Bank starts implementing Digital Dirham strategy – The National

The UAE Central Bank has begun implementing its digital currency strategy, Digital Dirham, as it prepares the country's infrastructure for the future of finance.

It signed an agreement with Abu Dhabi's G42 Cloud and digital finance services provider R3 to be the infrastructure and technology providers, respectively, for the implementation of its central bank digital currency (CBDC), the regulator said in a statement on Thursday.

Digital Dirham aims to address the “pain points” of domestic and cross-border payments, enhance financial inclusion and the move towards a cashless society, and further strengthen the UAE's payment infrastructure by providing additional channels, it said.