India and UAE to Collaborate on Developing Digital Currencies
The countries will see if their central bank digital currencies will be interoperable.
India and the United Arab Emirates will jointly conduct pilot programs on central bank digital currencies, or CBDCs, according to an announcement on Wednesday.
The Reserve Bank of India and the Central Bank of the United Arab Emirates signed a memorandum of understanding in Abu Dhabi to explore the interoperability between the CBDCs of the two countries.
The banks will also "jointly conduct proof-of-concept (PoC) and pilot
India has been testing a retail CBDC in 15 cities reaching more than 50,000 customers, and 10,000 merchants. It hopes to launch a digital currency by the end of the year.
Read More: Unpacking India's CBDC Pilots as Country Prepares for Digital Rupee
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
