UAE prepares cryptocurrency launch
The nation manages a plan that aims to have the digital asset ready between 2023 and 2026 through the central bank of the region
The United Arab Emirates are working on developing their own cryptocurrency, which is expected to come out between 2023 and 2026.
This launch will be thanks to the efforts of the Central Bank of the United Arab Emirates (CBUAE), which seeks with this to be among the top 10 banks in the world.
CBUAE’s strategy includes seven goals to help drive the country’s digital transformation ambitions, primarily focused on financial services.
Faced with all this situation, the Government of the Emirates also intends to develop a secure cloud infrastructure, which serves to follow a continuous innovation process.
While numerous Gulf countries previously signaled their willingness to experiment with digital technologies, the UAE becomes the first regulator to announce their interest with a fixed timeline.
As cryptocurrency continues to gain the trust of the general public, governments have become more attentive to developments around the use of blockchain and digitization within their existing financial systems.
K. Tovar
Source: Gulfnews
