Central Bank of the United Arab Emirates
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The first phase of the UAE CBDC strategy will be completed by mid-2024
On March 24th, the Central Bank of the United Arab Emirates announced on Thursday that it is expected to complete the first phase of its central bank’s digital currency strategy around the middle of 2024. This includes proof-of-concept work for wholesale and retail CBDC. Interpretation of this information: The announcement made by the Central Bank of the United Arab Emirates (CBUAE) on March 24th has revealed the bank’s plans to develop and launch its own digital currency. The bank stated that it will complete the first phase of its digital…
