Commercial Bank of Dubai announced the successful completion of a wholesale Digital Dirham transaction with Bank of China through the Central Bank of the UAE’s (CBUAE) Jisr platform, sending and receiving wholesale Digital Dirham between the two banks. The milestone reflects CBD’s participation in the CBUAE-led Digital Dirham programme and supports the CBUAE’s financial innovation agenda.
The transaction demonstrated the banks’ ability to process the Digital Dirham transaction end-to-end, from initiation through to settlement on the CBUAE’s Jisr platform. It supports the ongoing development of cross-border Digital Dirham payment capabilities between the UAE and China.
The milestone builds on CBD’s earlier participation in the CBUAE’s cross-border wholesale CBDC initiatives. Through Jisr, CBD has now completed bilateral wholesale Digital Dirham transfers.
This participation reflects CBD’s corporate payments strategy to strengthen international connectivity and contribute to the development of next-generation financial infrastructure.
The CBUAE’s Jisr platform supports the development of cross-border central bank digital currency (CBDC) settlement capabilities through bilateral connectivity between the UAE and participating markets.
The Digital Dirham forms part of the CBUAE’s Financial Infrastructure Transformation Programme, which aims to accelerate the digital transformation of the UAE’s financial sector services.
Dr. Bernd van Linder, Chief Executive Officer, CBD, said: “Our participation in the Digital Dirham programme reflects CBD’s long-term commitment to support the Central Bank of the UAE’s vision for a modern, secure and innovative financial ecosystem. By contributing our banking expertise, we aim to support the development of cross-border payment capabilities and the UAE’s continued growth as a global trade and financial hub.”
Vladislavs Mironovs, Chief Digital Officer, CBD, said: “CBD’s participation in Jisr reflects our focus on contributing to the development of innovative payment capabilities. Completing this transaction with Bank of China through the Jisr platform demonstrates our ability to execute cross-border Digital Dirham payments and supports our continued participation in the development of cross-border Digital Dirham use cases.”
CBD will continue working closely with the CBUAE, Bank of China and other partners to support the CBUAE-led development of the Digital Dirham ecosystem, in line with applicable CBUAE requirements. This collaboration reflects CBD’s continued commitment to advancing secure digital payments and supporting the UAE’s position as a global hub for financial innovation.
