The Central Bank of the United Arab Emirates (CBUAE) will implement its Central Bank Digital Currency (CBDC) strategy dubbed the “Digital Dirham,” Arabian Business reports. CBUAE has invited two entities, G42 Cloud and R3, as infrastructure and technology providers, respectively. The first phase of its CBDC strategy will take place over the next 12 to 15 months and will focus on the soft launch of mBridge, proof-of-concept work on a bilateral CBDC bridge with India, and a proof-of-concept work on domestic CBDC issuance covering both wholesale and retail usage.