In a ceremony today in Hong Kong, Khaled Mohamed Balama of the CBUAE and Pan Gongsheng from the People’s Bank of China also signed a Memorandum of Understanding (MoU) to collaborate on CBDC projects, such as “mBridge.” This initiative is designed to enable secure and instantaneous cross-border payments. The MoU encompasses a commitment to share expertise in digital currencies and the implementation of technology-driven financial solutions to stimulate economic growth.
The agreement also includes measures for training financial technology specialists and organizing bilateral visits to discuss shared financial interests. These visits aim to further economic expansion by leveraging technological advancements in the finance sector. The collaboration highlights the growing importance of digital currency innovation and the commitment of both nations to remain at the forefront of this rapidly evolving domain.
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