UAE Executes Historic First Cross-Border Digital Currency Payment to China

Historic Digital Payment Marks New Era for UAE-China Financial Ties

Abu Dhabi, United Arab Emirates – The United Arab Emirates has achieved a significant milestone in global financial technology, with Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE (CBUAE), executing the nation's first cross-border payment using central bank digital currency (CBDC) with China. The historic transaction took place on November 20, 2025, at Qasr Al Watan in Abu Dhabi, signaling a new era of digital financial cooperation between the two countries.

Launch of the mBridge Platform

The landmark payment was facilitated through the newly launched mBridge platform, also referred to as the 'Jisr' network. This innovative CBDC platform was developed with the active participation of both Emirati and Chinese banks. Its primary objectives are to streamline cross-border transfers, significantly reduce transaction costs, and enable instant settlement of payments. The official launch of mBridge is a pivotal step towards creating a more efficient and secure global payment infrastructure. The platform is anticipated to expand further in 2026, with additional central banks expected to join the network, enhancing its reach and impact on international finance.

Broader Financial Integration Initiatives

The digital currency payment is part of a comprehensive suite of initiatives aimed at deepening financial integration between the UAE and China. During the high-level meeting, attended by Pan Gongsheng, Governor of the People's Bank of China, and Khaled Mohamed Balama, Governor of the CBUAE, several other key projects were unveiled:

• Interlinking Instant Payment Systems: The UAE's Instant Payment System has been interconnected with China's Internet Banking Payment System. This integration allows for secure, real-time money transfers available 24/7, supporting various transactions including scholarship transfers for Emirati students in China, remittances for Chinese residents in the UAE, and commercial payments between companies.
• 'Jaywan-UnionPay' Prepaid Card: The first multi-scheme prepaid card, named 'Jaywan-UnionPay', was also launched. This card integrates the UAE's domestic scheme, Jaywan, with China's UnionPay, offering wider international acceptance while ensuring local processing for transactions within the UAE. Its first transaction was successfully completed during the event.

Strengthening Economic Ties and Future Outlook

Sheikh Mansour emphasized the profound implications of these initiatives, stating that they 'reflect the depth of the partnership between the United Arab Emirates and the People's Republic of China, and open new horizons for economic, financial, and technological cooperation.' He highlighted that the launch of the mBridge platform, the interlinking of instant payment systems, and the introduction of the 'Jaywan-UnionPay' card represent tangible steps towards developing a modern and secure financial infrastructure that fosters innovation and facilitates seamless cross-border payments. This strategic move is expected to enhance the UAE's competitive capabilities and reinforce its position as a global leader in financial innovation and digital finance.