Prime Highlights
- The UAE made its first central bank digital currency (CBDC) payment to China via the new Jisr platform, enhancing cross-border digital payments.
- The move strengthens financial cooperation, connecting real-time payment systems and enabling faster, cheaper, and more secure transactions.
Key Facts
- The Jisr platform, developed with support from Emirati and Chinese banks, will expand to include more central banks in 2026.
- The UAE and China introduced the Jaywan–UnionPay prepaid card and signed an MoU to support digital payments, fintech collaboration, and modern financial systems.
Background
The UAE made its first central bank digital currency (CBDC) payment to China, taking a major step forward in digital finance and cross-border payments. The transaction was completed through the newly launched Jisr platform during official meetings in Abu Dhabi.
The Jisr platform allows instant CBDC-based payments between countries. It was developed with the support of Emirati and Chinese banks to make international money transfers faster, cheaper, and more secure. According to officials, the platform will welcome more central banks in 2026 as it continues to grow.
In another important move, the UAE and China have connected their real-time payment systems. This link now allows people and companies to send money between the two countries at any time of the day. The integration will help students, residents, and businesses make smoother payments for studies, services, and trade.
The UAE also introduced the new Jaywan–UnionPay prepaid card as part of this cooperation. The card offers global acceptance through a major payment network while still supporting domestic settlement. It is designed to give travellers and residents a simple and reliable way to make both international and local payments.
To support these developments, the central banks of the UAE and China signed a Memorandum of Understanding. The agreement will strengthen cooperation in digital payments, financial technology, and modern financial systems. Leaders from both countries said the partnership will make transactions more secure and increase financial connections between them.
These steps show that the UAE is playing a bigger role in digital finance and that the UAE and China are working more closely on modern payment systems.
