Jisr Platform Introduces Direct CBDC Corridor

Jisr Platform Introduces Direct CBDC Corridor

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by Aisha Farooq

a year ago

Made with AI

The Jisr platform has made a significant leap in cross-border finance by establishing a direct Central Bank Digital Currency (CBDC) corridor between the United Arab Emirates and China. According to the assessment of specialists presented in the publication, this innovative development promises to enhance transaction speed and lower costs for users in both countries.

Launch Event Highlights

At the launch event, prominent figures such as Sheikh Mansour bin Zayed, Pan Gongsheng, and Khaled Mohamed Balama emphasized the platform's capability for real-time settlement, which addresses common delays faced in traditional global banking systems.

New Transaction Corridor

The newly created corridor is designed to facilitate a variety of transactions, including:

  • scholarship transfers
  • remittances

thereby promoting economic interaction between the UAE and China. Additionally, it aims to strengthen liquidity in both regions, paving the way for more efficient financial operations.

In a related development, Binance has announced a temporary suspension of deposits and withdrawals for assets on the Polygon network, effective December 9. For more details, see more.

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