November 24, 2025
By Anjali Kochhar
The United Arab Emirates has officially launched the mBridge central bank digital currency platform, marking a major step in the evolution of cross border digital payments. The launch was highlighted by the UAE’s first ever CBDC payment to China using the Digital Dirham.
The ceremony took place in Abu Dhabi where Sheikh Mansour bin Zayed Al Nahyan, Vice President and Chairman of the Central Bank of the UAE, executed a live cross border transaction through the mBridge network. The payment used the UAE’s Digital Dirham and China’s digital currency, reflecting the growing financial cooperation between the two countries.
The mBridge project is a multi central bank platform created to modernise global wholesale payments with faster, more secure and more efficient settlement using CBDCs. It is being developed through a partnership involving the Bank for International Settlements Innovation Hub, the Hong Kong Monetary Authority, the Bank of Thailand and the Digital Currency Institute of the People’s Bank of China.
In 2024, the UAE became one of the first jurisdictions to introduce a Minimum Viable Product version of the mBridge platform for early adopters. This early rollout signaled the UAE’s commitment to becoming a leader in CBDC development and digital finance infrastructure.
During the official launch event, Sheikh Mansour also announced several initiatives that complement the mBridge vision. These included the interlinking of the UAE and China’s instant payment systems and the introduction of the Jaywan UnionPay prepaid card. The card connects the UAE’s domestic payment network with China’s UnionPay system, making cross border retail payments more convenient for users.
The first successful mBridge transaction represents a significant shift in how countries may conduct cross border settlement in the future. By enabling central bank money to be transferred directly between jurisdictions, mBridge reduces reliance on traditional correspondent banking networks. This can lower costs, increase transparency and enhance speed for international trade payments.
The UAE sees the platform as an essential part of its long term digital transformation strategy. The Central Bank of the UAE has highlighted mBridge as a tool that can strengthen trade flows, improve financial connectivity and support innovation in the region.
Looking ahead, the UAE plans to expand use of the mBridge system by involving more domestic banks and testing additional cross border CBDC transactions. With more countries showing interest in joining or expanding their participation, mBridge could eventually form the foundation of a new global standard for digital currency settlement.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
