🔴 The United Arab Emirates to launch a blockchain-based digital dirham by late 2025

🔹️The Governor of the Central Bank of the United Arab Emirates (CBUAE), Khalid Mohammed Balama, announced that the blockchain-based central bank currency (CBDC), the digital dirham, is expected to be launched in the fourth quarter of 2025.

🔹️This digital currency aims to enhance financial stability and combat financial crime. Additionally, the digital dirham will be accepted across all payment channels, similar to physical currency. Balama indicated that the digital dirham will contribute to the development of innovative digital products, services, and new business models, while reducing costs and increasing opportunities to access international markets.