Central Banks of China and UAE Sign MoU to Strengthen Digital Currency Cooperation
The Central Banks of China and the United Arab Emirates (UAE) have recently signed memoranda of understanding (MoUs) relating to digital currencies during the third "Belt and Road" International Cooperation Summit Forum in Beijing last week.
The Central Banks of China and the United Arab Emirates (UAE) have recently signed memoranda of understanding (MoUs) relating to digital currencies during the third "Belt and Road" International Cooperation Summit Forum in Beijing last week.
The state-owned commercial Bank of China (BoC) has also sealed a digital currency cooperation agreement with the UAE's largest bank, the First Abu Dhabi Bank (FAB).
This development builds upon the existing partnership between the two central banks within the mBridge project, focusing on cross-border payments. The mBridge initiative also involves the Bank for International Settlements (BIS), the central banks of Thailand and Hong Kong.
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