On June 20 2025, the Agricultural Bank of China Dubai Branch successfully went live on the mBridge central bank digital currency (“CBDC”) platform and completed its first transaction. This marks an important step for the branch in advancing digital transformation in cross-border payments.

mBridge is a cross-border payment platform jointly developed by the Bank for International Settlements (BIS) Innovation Hub, together with the central banks of China, the United Arab Emirates, Thailand, and Hong Kong SAR. It aims to enhance the efficiency of cross-border payments and reduce associated costs and risks through the application of CBDCs and related technologies.

The successful completion of this transaction by the Dubai Branch demonstrates the bank’s ability to participate in international cutting-edge financial technology practices. As the sole overseas RMB clearing branch of the ABC group, the Dubai Branch will continue to explore digital financial innovation applications. Through this participation in mBridge, it will actively support the internationalization of the RMB and deepen China’s financial cooperation with countries,inclusive UAE, along the Belt and Road.