Saudis and UAE say shared CBDC is technically possible

Central Bank of the UAE
Photo: Achilver/Wikimedia Commons

The central banks of Saudi Arabia and the United Arab Emirates have said that it is “technically viable” for them to issue a cross-border digital currency.

They also said it was possible to design a cross-border distributed payment system, in a report published on November 30.

This could offer the two countries “significant improvement over centralised payment systems in terms of architectural resilience”, they said.  

In 2019, the Central Bank of the United Arab Emirates and the Saudi

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