Sonic Labs opts for UAE dirham over algorithmic USD stablecoin

Sonic USD Algorithmic Stablecoin: Introducing the Dirham Stablecoin Crypto enthusiasts have a new stablecoin to keep an eye on with the introduction of the Sonic USD algorithmic stablecoin. This innovative digital asset is pegged to the United States Dollar (USD) and aims to provide stability and security in the cryptocurrency space. What sets Sonic USD [...]

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UAE plans to launch digital dirham this year to boost financial inclusion and fight crime

The Central Bank of the United Arab Emirates (CBUAE) said its Digital Dirham would launch for retail use in the final quarter of 2025. According to a March 27 statement, the currency would be available through regulated banks, fintech companies, exchange houses, and licensed financial firms. Once live, the Digital Dirham will support smart contracts […]

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UAE's Central Bank Nears Launch of Digital Dirham

The UAE's central bank is close to launching its central bank digital currency (CBDC), the digital dirham, for domestic and cross-border payments. The CBUAE has partnered with G42 Cloud and R3 to be the infrastructure and technology providers for the CBDC implementation, which will boost financial inclusion and help the country become a cashless society. The first phase of the CBDC strategy includes the soft launch of "mBridge," proof-of-concept work for bilateral CBDC bridges with India, and domestic CBDC issuance for wholesale and retail use. (Read More)

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Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through

The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million dirhams ($13.6 million) directly to China. UAE Completes First [...]

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India and UAE Break Away From US Dollar: Landmark Agreement Enables Trade Settlements in Rupees and Dirhams

In a compelling turn of events this Saturday, India and the United Arab Emirates (UAE) inked a landmark agreement facilitating trade transactions to be settled in their native currencies, rupees and dirhams, instead of relying on the U.S. dollar. India’s prime minister Narendra Modi visited the UAE, where the countries announced the linking of the [...]

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Tether to launch dirham-pegged stablecoin on TON

Tethers senior strategic partnership manager, Alessandro Giori, said that TON is the fastest blockchain to reach 1 billion USDT since its launch.

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UAE stablecoin issuer gets greenlight, FTX customers sue hedge fund: Law Decoded

While the UAE central bank has given a significant regulatory nod to a new stablecoin, an FTX customer sued hedge fund Olympus Peak over its alleged profits from the exchanges meltdown.

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UAE stablecoin issuer gets nod from central bank

With Tether waiting in the wings, AED Stablecoin becomes the front-runner to launch the United Arab Emirates first regulated dirham-pegged token.

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