Central Bank of the UAE launches Jisr CBDC platform with China, executes first cross-border CBDC payment and links instant payment systems

The Central Bank of the UAE (CBUAE) announced the launch of the “Jisr” central bank digital currency (CBDC) platform for cross-border payments with China, marked by the first UAE–China CBDC transaction executed through the network. The update also confirmed completion of the first transaction enabled by the interlinking of the two countries’ instant payment infrastructures, the launch of the Jaywan–UnionPay multi-scheme prepaid card, and the signing of a memorandum of understanding (MoU) with the People’s Bank of China (PBoC) to deepen cooperation in cross-border payments. Jisr was established with the participation of a group of Emirati and Chinese banks and is intended to facilitate cross-border payments, reduce transaction costs, and provide instant settlement. The instant payments linkage connects the UAE’s Instant Payment System with China’s Internet Banking Payment System, enabling 24/7 secure instant transfers for use cases including scholarship payments, remittances, and cross-border commercial transactions. The Jaywan–UnionPay prepaid card, issued in partnership with Lari Exchange, integrates the UAE’s domestic card scheme Jaywan with UnionPay to provide global acceptance via UnionPay’s international network while keeping domestic UAE transactions processed locally. CBUAE indicated that Jisr is expected to expand in 2026 through the addition of more central banks. The MoU signed by the CBUAE Governor and the PBoC Governor covers cooperation on cross-border payments, financial infrastructure development, and joint strategic initiatives.