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The notion of Central Bank digital currency Evolution continues this week with the United Arab Emirates announcing $13.6 Million worth of Duram was transferred across to China using the embridge protocol for Central Bank digital currencies this removes the application of dollars and indeed digital dollars moving forwards as well to initiate transfers directly between
Countries the embridge protocol part of the bis initiative that we’ve covered on the channel multiple times has indicated many multiple countries worldwide piloting and developing systems around Central Bank digital currency usage between each other enhancing the ability of crossborder payments efficiently the validation and processing of these as well utilizing blockchain aspects too
This also confirms The increased narrative around dollarization and the Improvement of financial systems worldwide