The Central Bank of the United Arab Emirates (CBUAE) announced on Thursday that it expects to complete the first phase of its CBDC (digital dirham) strategy over the next 12 to 15 months, around mid-2024. This includes proof-of-concept work for both wholesale and retail CBDCs.
The CBUAE also revealed collaborations with the region’s cloud platform G42 Cloud and New York-based blockchain firm R3 as infrastructure and technology providers, respectively. (CoinDesk)