UAE Inches Closer to Digital Dirham Launch with New CBDC Strategy

The Central Bank of UAE (CBUAE) announced its intentions to complete the first phase of its https://www.financemagnates.com/cryptocurrency/coins/the-rise-of-central-bank-digital-currencies-cbdcs-impacts-on-the-crypto-market/” target=”_blank” rel=”follow noopener”>central bank digital currency (CBDC) in the next 12 to 15 months, which will be around mid-2024. It will include bilateral ties with a country and launching a proof-of-concept for CBDC issuance.

UAE Central Bank Unveils CBDC Strategy

According to Thursday’s official announcement…
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