A Chinese Belt and Road Summit released a list of foreign cooperation agreements. Amongst them were two related to digital currency. The state-owned commercial Bank of China (BoC) has signed a cooperation agreement with UAE’s largest bank, First Abu Dhabi Bank (FAB).
Additionally, the People’s Bank of China signed a digital currency agreement with the Central Bank of the UAE. The two central banks already collaborate on the mBridge project for cross border payments alongside the BIS, and the central banks of Thailand and Hong Kong.
The Belt and Road announcement also mentioned a collaboration with the Bank of Indonesia, but it was unclear whether that related to digital currency. Indonesia has an active digital rupiah program.
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