China and the United Arab Emirates have completed their first ever cross border central bank digital currency payment, according to a report from China Daily. The transaction was executed through the JISR network during a visit by Pan Gongsheng, governor of the People’s Bank of China, to Abu Dhabi this week.
Sheikh Mansour bin Zayed Al Nahyan, UAE vice president, deputy prime minister and chairman of the Central Bank of the UAE board, conducted the inaugural transfer. WAM, the UAE state news agency, said the initiative reflects deepening cooperation between the two countries and marks a major step toward modernizing bilateral financial links.
“These advanced initiatives reflect the depth of the strategic partnership between the UAE and the People’s Republic of China, and open new horizons for economic, financial and technological cooperation,” Mansour said, according to the report.
JISR network expands cross border settlement capabilities
The JISR platform was established with participation from banks in both countries. Its objective is to reduce transaction costs, speed up settlement, and enable instant payments across borders. The system is set to expand further in 2026, when more institutions will join the network.
Officials also oversaw the first interlinking of the UAE’s Instant Payment System with China’s Internet Banking Payment System. This connection will make it possible to send funds securely and in real time between the two jurisdictions at any hour.
The integration will support scholarship payments for Emirati students in China, remittances for Chinese residents living in the UAE, and commercial transactions between companies in both countries, according to WAM.
Joint card initiative and wider financial cooperation
The two governments also announced the launch of the “Jaywan UnionPay” multi scheme prepaid card, issued with Lari Exchange. The card connects local UAE infrastructure with UnionPay’s global network, which operates in more than 180 countries. When used inside the UAE, transactions will be processed locally.
During the visit, Pan and Khaled Mohamed Balama, governor of the Central Bank of the UAE, signed a Memorandum of Understanding to strengthen cooperation in cross border payments and financial infrastructure development. The agreement is expected to support joint strategic projects and deepen bilateral financial ties.
What the milestone means
The successful CBDC transaction adds momentum to global digital currency experiments, particularly in Asia and the Middle East. China’s digital yuan trials are among the most advanced worldwide, while the UAE has accelerated pilots through the mBridge project and other cross border platforms.
For Europe, the collaboration highlights the pace of CBDC innovation beyond the EU. As the ECB continues developing the digital euro, the China UAE milestone demonstrates how digital currencies could reshape international settlement and increase the influence of regional payment networks.