Saudi Arabia and UAE Announce Successful Pilot Of Joint CBDC

The Central Bank of United Arab Emirates (CBUAE) and the Saudi Arabia Bank (SAMA) have declared a successful pilot of their joint central bank digital currency (CBDC). After about two years of joint effort to create a dual CBDC, the UAE and Saudi Arabia are getting closer to an official launch of the digital currency. 

In a joint report, the SAMA and CBUAE said:

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