The People's Bank of China and the Central Bank of the UAE launch payment connectivity and the JISR multilateral digital currency bridge project

ChainCatcher news, Pan Gongsheng, Governor of the People's Bank of China, recently attended the launch ceremony of the China-UAE payment cooperation project together with Mansour, Vice President of the United Arab Emirates, and Khaled, Governor of the Central Bank.

The two parties signed a memorandum of understanding on cross-border payment interconnection, announcing the interconnection of the two countries' fast payment systems to support rapid online cross-border remittances for enterprises and individuals; witnessed the first transaction of the "UnionPay-Jaywan" dual-branded card; and officially launched the UAE multilateral digital currency bridge project JISR, promoting bilateral financial cooperation and improving cross-border payment efficiency.