The ’24 Fintech event, taking place from September 3-5 in Riyadh, is set to be an essential gathering for industry leaders, investors, and innovators driving the future of finance
The initiative was unveiled in 2021 to pilot cross-border payments in digital currencies issued by central banks
Facilitated through the multi-CBDC platform ‘mBridge’, the transaction utilised central bank-mandated digital currencies for international fund transfers
The blockchain firm said its new UAE entity will focus on deposit token infrastructure to promote cost-effective and borderless trade finance
The first phase of CBUAE’s CBDC strategy is expected to complete over the next 12 to 15 months and comprises three major pillars