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Central Banks of China and UAE Sign MoU to Strengthen Digital Currency Cooperation

The Central Banks of China and the United Arab Emirates (UAE) have recently signed MoUs relating to digital currencies during the third "Belt and Road" International Cooperation Summit Forum in Beijing this week. The People's Bank of China (PBOC) has signed a memorandum of understanding on strengthening digital currency cooperation with the Central Bank of the United Arab Emirates. This development builds upon the existing partnership between the two central banks within the mBridge project, focusing on cross-border payments. The Belt and Road announcement hinted at further collaboration with the Bank of Indonesia, although it remains unclear whether this pertains to digital currency.

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