UAE executes first government transaction using Digital Dirham

File picture

The UAE has completed its first government transaction using the Digital Dirham, marking a major milestone in the adoption of the country’s national digital currency.

The Ministry of Finance and Dubai Finance, in collaboration with the Central Bank, say the move is part of a pilot phase under the Digital Dirham project, aimed at expanding digital payments across government and private sector operations.

The transaction used the mBridge platform, which allows secure and efficient settlement of payments using the digital currency without intermediaries. It was completed in less than two minutes.

Officials say the system will speed up transactions, reduce costs and improve transparency, supporting the UAE’s vision for a fully integrated digital economy.

This initiative highlights the UAE’s growing leadership in advanced financial technologies and its commitment to innovation in government and finance.

 

More from Business News

On Virgin Radio today

  • Non Stop Hits

    3:00am - 7:00pm

    The UAE's #1 Hit Music Station with no interruptions

  • The Fix With Dany Neville

    7:00pm - 11:00pm

    Officially the UAE's favourite DJ, Dany Neville makes sure you have the soundtrack you need every Saturday night.