UAE Completes Historic Cross-Border Digital Currency Payment to China, Launches 'Jisr' Platform

Landmark Transaction Initiates New Era of Digital Finance

The United Arab Emirates has marked a pivotal moment in global financial technology, successfully completing its first cross-border payment with China using central bank digital currency (CBDC). The historic transaction was executed on November 19, 2025, by His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE's Board.

The payment took place at Qasr Al Watan in Abu Dhabi during a meeting with Pan Gongsheng, Governor of the People's Bank of China. This event signifies a major breakthrough in digital finance, setting the stage for enhanced technological and economic cooperation between the two nations.

'Jisr' (mBridge) Platform at the Forefront of Innovation

The groundbreaking payment was facilitated through the newly launched 'Jisr' network, also widely known as the 'mBridge' platform. This innovative platform, established with the participation of Emirati and Chinese banks, is designed to deliver instant settlement, significantly reduce cross-border transaction costs, and support smoother payment flows.

Officials anticipate that the 'Jisr' platform will undergo further expansion in 2026, with additional central banks expected to join, thereby strengthening the UAE's growing role in global financial connectivity. The 'mBridge' project, developed by the Bank for International Settlements (BIS) Innovation Hub in collaboration with several central banks including the CBUAE and the People's Bank of China, aims to enable direct cross-border payments between banks, bypassing traditional correspondent banking systems for near-instant international transfers.

Broader Financial Integration Initiatives

Beyond the CBDC transaction, the visit also highlighted several other key initiatives aimed at deepening financial ties between the UAE and China:

• Interlinking of Instant Payment Systems: The UAE's Instant Payment System has been successfully interconnected with China's Internet Banking Payment System. This integration allows users in both countries to conduct secure, real-time money transfers around the clock, supporting various use cases such as scholarship transfers, remittances, and commercial payments.
• Launch of 'Jaywan–UnionPay' Prepaid Card: A new multi-scheme prepaid card, named 'Jaywan–UnionPay', was unveiled and its first transaction executed. This card integrates the UAE's domestic card scheme, Jaywan, with China's UnionPay, offering wider international acceptance across UnionPay's network in over 180 countries while ensuring local processing within the UAE.
• Strategic Memorandum of Understanding (MoU): A Memorandum of Understanding was signed between the Central Bank of the UAE and the People's Bank of China to enhance cooperation in cross-border payments.

Reinforcing UAE's Position in Global FinTech

Sheikh Mansour emphasized that these advanced initiatives underscore the 'depth of the strategic partnership' between the UAE and China. He stated that the launch of the 'Jisr' platform, the interlinking of instant payment systems, and the introduction of the 'Jaywan–UnionPay' card are tangible steps towards developing a modern, secure, and innovative financial infrastructure. These developments are expected to foster innovation, streamline cross-border payments, and reinforce the UAE's global leadership in financial technology.