| Key Event/Highlight | Details |
|---|---|
| Digital Dirham Transaction | First government transaction completed on November 12, 2025, using the UAE's Digital Dirham. |
| Time Taken | Transaction completed in less than 2 minutes. |
| Platform Used | Transaction executed via the mBridge platform. |
| Entities Involved | Ministry of Finance and Dubai Department of Finance. |
| Digital Dirham | Official digital currency issued by the Central Bank of the UAE (CBUAE), part of the FIT Programme. |
| Purpose of FIT Programme | To modernize financial infrastructure, boost transparency, efficiency, and financial inclusion. |
| mBridge Platform | Multi-central bank digital currency settlement system for cross-border transactions. |
| Regulatory Framework | Since March 2023, UAE mandates stablecoins to be fully backed by high-quality liquid assets and audited. |
| Dirham-Backed Stablecoin | Initiative announced in April 2023 by major Abu Dhabi institutions like IHC, ADQ, and First Abu Dhabi Bank. |
| Future Goals | Plans for government salaries, subsidies, procurement, and public services via digital payments. |
| Static Facts | Transaction date: November 12, 2025; Currency: Digital Dirham; Time: <2 minutes; Platform: mBridge. |
Workflow
Login