China, UAE to deepen cooperation on CBDC

In a joint statement, China and the United Arab Emirates (UAE) declared that they will strengthen bilateral and multilateral cooperation on their central bank digital currencies (CBDCs), according to Bitcoin.com. In January, the UAE conducted a direct cross-border payment transaction using its CBDC, digital dirham, to China using the mBridge cross-border CBDC platform. The transaction amounted to 50 million dirhams ($13.6 million), according to the report.