Emirates UAE expects the Dival Central Bank to launch the digital in the fourth quarter of 2025.
According to a report published in the Gulf Times newspaper, it was said that the central bank of the United Arab Emirates ruler Khaled Mohamed Bala said that the currency -based currency can improve financial stability and help in combating financial crime. According to the report, the retail sector can Expected A dirham release in the last quarter of 2025.
“He – she [digital dirham] Palma said that it would enable the development of innovative digital products, services and new business models while reducing cost and increasing access to international markets.
The report also stated that Digital Dirham and his physical counterpart will be accepted as a payment method in all payment channels.
The news comes at a time when Digital Dirham has received a brand. The first letter of Dirham will be its international symbol, along with two horizontal lines representing the stability of the currency, inspired by the flag of the United Arab Emirates.
The new symbol of the United Arab Emirates. Source: Times Bay
The road to digital drama in the United Arab Emirates
In June 2024, CBUAE approved a license frame for the organization of Stablecoins. In a meeting with the CBUAE board of directors in Abu Dhabi, United Arab Emirates officials discussed the government’s financial infrastructure program and agreed to the framework. The new rules showed the issuance of distinctive symbols to pay and supervise them with the support of the Emirates.
After the approval of the frame, Stablecoin, which has been released, announced its plans to launch the Dirham -backed Stablecooin with Phoenix Group and Green Acorn Investments. Cooperation aims to create a digital representation fully supported by the United Arab Emirates.
After the approval of the frame, other players joined the race to create a Dirham -backed Stablecooin. On October 18, 2024, a company called AED Stablecoin obtained a principle approval for the issuance of Dirham-PEGGD Stablecoin in the United Arab Emirates.
On November 1, the Open Network (TON) announced that Dirham-PEGGECOCOIN will be launched from Tether on its Blockchain network.
Related to: Abu Dhabi’s financial free zone signs a memorandum of understanding with a series of distinguished symbol frameworks
Stablecoins in the United Arab Emirates
Regardless of Dirham -backed Stablecoins, the US dollar and Euro Stablecoins also gained traction in the country.
On February 24, the Dubai Financial Services Authority, the independent organization of the Dubai International Financial Center (DIFC), recognizes the Circle’s Circle and EURC as the first stablecoins as part of the premium code for encryption.
Meanwhile, a former Ripple spokesman Cointelegraph told the company that the company is working to understand the requirements of Stablecoin in the country. The spokesperson said they are closely monitoring developments and that Rlusd Stablecoin is available in the United Arab Emirates.
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