📈 Swift MT103-202 - перевод Swift.com 💶

The financial market is discussing the launch of a digital national currency in the UAE — and this is a really important event. The fact is that unlike CBDC pilot projects in other countries, the UAE is launching a regulated but private stablecoin backed by a dirham. The project will be regulated by the UAE Central Bank and implemented through FAB Bank. Key local capital players are also involved in the launch.: The Sovereign Wealth Fund ADQ and the IHC conglomerate.
The project is based on the local ADI blockchain, which reduces external dependence and increases digital sovereignty. The local stablecoin can be used in e-commerce, cross-border transfers, oil trading, and Web3 projects - that is, in areas currently dominated by Visa, Mastercard, USDT, and Swift.
As far as we understand, this is a precedent in Islamic banking. The tokenization of the dirham in the form of a regulated stable coin opens the way to Sharia-compliant digital settlements and could set an example for other Gulf countries.

www.tgoop.com/Swiftmt103/1541

777 viewsMay 2 at 19:14

The financial market is discussing the launch of a digital national currency in the UAE — and this is a really important event. The fact is that unlike CBDC pilot projects in other countries, the UAE is launching a regulated but private stablecoin backed by a dirham. The project will be regulated by the UAE Central Bank and implemented through FAB Bank. Key local capital players are also involved in the launch.: The Sovereign Wealth Fund ADQ and the IHC conglomerate.
The project is based on the local ADI blockchain, which reduces external dependence and increases digital sovereignty. The local stablecoin can be used in e-commerce, cross-border transfers, oil trading, and Web3 projects - that is, in areas currently dominated by Visa, Mastercard, USDT, and Swift.
As far as we understand, this is a precedent in Islamic banking. The tokenization of the dirham in the form of a regulated stable coin opens the way to Sharia-compliant digital settlements and could set an example for other Gulf countries.

BY 📈 Swift MT103-202 - перевод Swift.com 💶