The UAE plans to launch and experiment with a central bank digital currency (CBDC). This is also a part of the UAE’s digital transformation program.

More and more central banks are about to launch a CBDC.

Also because of private companies that plan to launch their own currencies. Facebook e.g. is about to launch its own stablecoin: Diem. So, the pressure on central banks around the world grows.

The latest countries/ unions that are about to launch a CBDC are:

  • China
  • Thailand
  • South Korea
  • Vietnam
  • Japan
  • The European Union
  • Tanzania

Besides the global pressure, the central bank of the UAE aims to become one of the top ten central banks in the world. A CBDC should help to reach that goal.

But when precisely the first central bank will launch a CBDC is yet to see.

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