UAE conducts first national transaction using Digital Dirham
The United Arab Emirates has completed its first government transaction using the Digital Dirham, marking a major step in the country’s push toward a fully integrated digital economy.
The pilot transaction was carried out jointly by the Ministry of Finance and the Dubai Department of Finance, in coordination with the Central Bank of the UAE (CBUAE), the authorities announced on Tuesday.
According to Ahmed Ali Meftah, executive director of the central accounts sector at the Department of Finance, the transfer was executed through mBridge, a multi-central bank digital currency (CBDC) platform developed by the CBUAE.
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Muhammad Ali Bandial