Commercial Bank of Dubai Completes Digital Dirham Transfer With Bank of China
Commercial Bank of Dubai and Bank of China have completed a wholesale Digital Dirham transaction via the UAE's Jisr platform, a step for cross-border CBDCs.
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giftdetect· the right gift in minutesCommercial Bank of Dubai (CBD) has completed a wholesale Digital Dirham transaction with Bank of China, routed through the UAE's Jisr platform. The transfer marks a cross-border use of the UAE's central bank digital currency (CBDC).
The Digital Dirham is the UAE's national CBDC. Unlike a retail currency aimed at consumers, a wholesale CBDC is used for settlement between financial institutions. Here, two banks in different countries took part in the transaction, which is the part that makes it notable.
Why it matters
Cross-border payments between banks often pass through several intermediaries, which can add cost and delay. Wholesale CBDC pilots aim to test whether central bank digital money can make those flows more direct. The involvement of Bank of China links the UAE's digital currency infrastructure with one of China's major lenders.
The transaction also gives the Jisr platform a real-world use case. It shows the platform handling a Digital Dirham transfer between a UAE bank and a foreign counterpart.
What comes next
The available details are limited, and the amount, settlement time and technical set-up of the transfer were not part of the information provided. How quickly wholesale Digital Dirham transactions expand to more banks and corridors remains to be seen. For now, the deal is a concrete sign that the UAE is moving its CBDC work from concept toward cross-border practice.
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