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The Eau Government will issue Dirham Digital at the end of this year.
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As a member of the BRICS, the country intends to use its CBDC for cross -border payments.
Despite the manifest rejection of many citizens in various parts of the world to the digital currencies of Central Bank (CBDC), the race for its launch has not stopped advancing.
On this occasion it is the United Arab Emirates (EAU), where the Central Bank (CBUAE) has confirmed The launch of Dirham Digitalits CBDC, for which purpose the symbol that will represent the digital currency was revealed and the wallet was announced.
The plan is for the digital currency to begin to be issued For the last quarter of 2025, as part of the government’s strategy to lead global financial innovation and consolidate its position as an avant -garde economic center.
From that date, people and companies will be able to obtain the DIILY DIGITAL through authorized financial institutions, such as banks, exchange houses, financial entities and Fintech companies.
To this end, the Central Bank has developed a platform (based on block chains) for the broadcast, circulation and use of the CBDC.
The idea is that Dirham Digital is used not only for retail payments within the country, but also to facilitate transactions between the EAU and their commercial partners. Russia and China are included among them, being the Arab country One of the members of the BRICS group.
In this way, everything indicates that the CBDC of the EAU will be launched Before the digital eurowhich was considered, until now, among the most advanced projects, behind the Yuan Digital of China. All this, in a context, where many countries are slowing down their plans with digital coins from Central Bank.
EAU can beat the European Union race
As Cryptonoticias has reported, one of the goals of the European Central Bank (ECB) is Accelerate the process for launching the digital euro. This includes making decisions and making a series of efforts this year.
This 2025 will therefore be key to the development of the European Union digital currency project (EU). Currently, three areas are worked: to complete the operation regulations, the selection of technical suppliers and the preparation to perform the first use tests.
From what the president of the ECB, Christine Lagarde has commented, there are arrears and are making efforts To advance some phases of the schedule and launch in 2028 and, if possible, before that date.
Such facts place the Dirham Digital almost along with the digital euro. And if the launch is specified at the end of the year, as reported by the EAU authorities, it is possible that this CBDC See the light before the EU currency.
In that sense, the first phase of the strategy rests In three key pillarswhose completion is scheduled for a period of 12 to 15 months. At that time the following aspects will be addressed:
- Preliminary launch of the MBRIDGE project, an initiative of cross -border payments of the central banks, which advance China, Hong Kong, Thailand and the United Arab Emirates next to the International Payment Bank (BIS). The goal is Facilitate cross -border transactions using CBDC.
- Secondly, the proof of concept for the bilateral bridges of CBDC with India will be launched.
- And thirdly, the proof of concept for the local CBDC issue for wholesale and retail trade in the EAU will be implemented.
In this way, priority will be given to the use of digital currency for international trade. A strategy in which BRICS countries have been working for last year, as a way to unfold some of its international transactions.
The plan collides with the goals that Donald Trump has established in the United States, which contemplate the use of Stablcoins as a mechanism to maintain and strengthen the world’s world domain.
This fact has lit the alerts of the European Unionwhich now intends to face the US. Only with the digital euro, as its regulation puts many restrictions on the stablecoins.
Something very different from the tactic drawn in the United Arab Emirates, where competition with the United States not only has CBDC support. Also Stablecoins have been includedcoins anchored to the dollar that already have a legal framework.
Even Bitcoin enters the National Vision 2030 project of the EAU, leading the Government to support the sale of cryptocurrencies through banking entities. With all these tools, the Persian Gulf country seeks become a world cryptocurrency center.