In a significant development for international finance, the UAE and China have launched a real-time digital payment link via the Jisr system, marking a new era for cross-border transactions, as emphasized in the official statement.
Successful Inaugural Cross-Border Payment
The inaugural cross-border payment utilizing central bank digital currency was successfully executed through the Jisr network during a high-profile meeting in Abu Dhabi. Key figures in attendance included Sheikh Mansour bin Zayed, Pan Gongsheng, and Khaled Mohamed Balama, underscoring the importance of this initiative.
Enhancing Financial Cooperation
This groundbreaking payment link is designed to enhance financial cooperation between the UAE and China, paving the way for future expansions involving additional central banks by 2026. The initiative aims to improve financial connectivity, making transactions more efficient and accessible for both nations.
In a notable contrast to the recent launch of a digital payment link between the UAE and China, Coinbase has introduced a new borrowing service for US users, allowing them to leverage their Ethereum holdings for liquidity. For more details, see read more.
