UAE and China Execute $13.6M Cross-Border CBDC Transaction

The United Arab Emirates (UAE) and China have executed the first cross-border Renminbi (RMB) central bank digital currency (CBDC) transaction. The payment moved RMB and 50 million dirhams between the UAE and China using mBridge infrastructure as the dollar’s supremacy in Asia comes under fire. The People’s Bank of China and the UAE Central Bank successfully exchanged 50 million dirhams... source: https://beincrypto.com/china-cbdc-transaction-successful/