UAE and China deepen ties with mBridge launch
The ‘Jaywan-UnionPay’ prepaid card expands local Emirati cards acceptance through UnionPay’s vast international merchant network.
Sheikh Mansour bin Zayed has overseen a digital currency payment between the UAE and China. The transfer used the ‘mBridge’ central bank digital currency platform to settle funds directly. Officials say the move marks the formal launch of ‘mBridge’ for cross-border payments.
New links have been established between the UAE Instant Payment System and China’s internet banking payment platform. Users can securely send clock transfers for study, remittances and trade. Officials expect faster payments to deepen economic ties and modernise cross-border settlement channels.
Ceremonies in Abu Dhabi also launched the first ‘Jaywan-UnionPay’ multi-scheme prepaid card. The product links Jaywan’s domestic network with UnionPay’s global acceptance in more than 180 countries.
Transactions inside the UAE are processed locally, while overseas spending routes through UnionPay’s international infrastructure. Officials say the projects highlight partnerships between the UAE and China and strengthen the Emirates’ role in digital finance.
Sheikh Mansour and Pan Gongsheng also signed a memorandum on future cross-border payment cooperation. Further expansion of the ‘mBridge‘ network and domestic Digital Dirham pilots is planned from 2026.
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