UAE Central Bank reveals world's first multi-CBDC platform, mBridge, for cross-border payments.

The UAE Central Bank unveiled the Minimum Viable Product (MVP) of the mBridge project, a multi-central bank digital currency (CBDC) platform for cross-border payments and settlements. It's the world's first multi-CBDC platform, developed in collaboration with banks from the UAE, Hong Kong, Thailand, and China. The platform uses a new blockchain called mBridge ledger and is compatible with Ethereum, facilitating real-time, cost-effective cross-border payments using CBDCs.

June 05, 2024
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