The United Arab Emirates central bank has entered the CBDC race as the country plans to launch its own central bank-backed digital currency. In a recently published roadmap, the UAE's central bank unveiled its aim to be one of the world's top 10 banks. It believes that a CBDC will play a significant part in accomplishing this aspiring goal. In addition, UAE has been working with Thailand, Hong Kong, and China on a CBDC initiative for months now.
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