The United Arab Emirates (UAE) has achieved a historic milestone in the field of modern financial technology by successfully completing its first Digital Dirham transaction. This accomplishment represents a significant step towards revolutionizing the country’s digital finance sector.
UAE officials confirmed the groundbreaking development, stating that the transaction was executed in less than two minutes. The cross-border payment was facilitated through a digital currency platform in cooperation with the UAE Central Bank.
Officials explained that the digital currency remains under the strict control of the country’s central bank, and its primary goals are to promote financial transparency and substantially reduce the cost of transactions.
According to UAE authorities, this initiative constitutes a historic landmark for the nation’s digital finance landscape. They believe the success will play a crucial role in bringing greater speed and transparency to the future international financial system, aligning with the UAE’s strategic economic vision.
