The United Arab Emirates (UAE) has made a significant stride in digital payment systems by executing its inaugural central bank digital currency (CBDC) transaction with China. This achievement highlights a milestone in the enhancement of global financial connectivity, utilizing the newly unveiled Jisr platform. This pivotal transaction underscores the deepening strategic cooperation between the UAE and China in the realms of digital finance and payment modernization.
During high-profile discussions in Abu Dhabi, the Jisr platform facilitated this pioneering payment. Developed collaboratively by Emirati and Chinese banks, the platform is designed to enable instantaneous CBDC-based cross-border settlements. It aims to lower transaction costs, bolster security, and streamline international payment procedures. As the network grows, additional central banks are anticipated to join by 2026.
The UAE and China have successfully connected their real-time payment infrastructures, allowing for secure, round-the-clock cross-border transactions. This integration bolsters academic, remittance, and business payments, enhancing the efficiency and reliability of financial operations for residents, students, and companies in both markets.
Complementing this financial cooperation framework is the introduction of a new multi-scheme prepaid card, the Jaywan–UnionPay. Issued through a local collaboration, the card offers global acceptance via a major international payment network while supporting domestic transactions. It enhances payment options for both residents and travelers, ensuring seamless international and local usage.
The central banks of both nations have signed an MoU to broaden collaborative initiatives in payment technology and financial infrastructure. Leaders from both sides have emphasized that these developments will accelerate innovation, ensure secure transactions, and elevate bilateral financial integration.
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