The first transaction with digital dirham has been successfully completed in the United Arab Emirates

The United Arab Emirates (UAE) has conducted the first transaction using the central bank's digital currency as part of a pilot project. The Ministry of Finance and Dubai's financial institutions announced that the event took place on Tuesday and is an important step towards the wider introduction of the national digital currency. This transaction was the first critical update to the program, as there has been no news since its announcement.

Source Cointelegraph

The transaction, which took less than two minutes, was executed to test operational readiness and ensure seamless financial settlements. According to Ahmed Ali Meftah, Executive Director of Central Accounts at Dubai Finance, this milestone is important to improve the efficiency of operations and the speed of financial transactions. The UAE sees the digital dirham as an attempt to adapt to the conditions of the digital age and respond to new challenges. A phased introduction of the currency is planned, initially limited to payment options.