DCMA Launches The Universal Monetary Unit (UMU)

DCMA- The Digital Currency Monetary Authority has launched an international central bank digital currency (CBDC).

The Digital Currency Monetary Authority (DCMA) is a world leader in the advocacy of digital currency. And monetary policy innovations for governments and central banks.

iexclusivenews reports that membership within the DCMA consists of sovereign states, central banks. Commercial and retail banks, and other financial institutions

What Is The Purpose Of Dcma?

The purpose of the DCMA is to enable trade globalization through the monetary integration of international payments. And settlements while strengthening national economies’ monetary sovereignty.

The Universal Monetary Unit (UMU)

The Universal Monetary Unit (UMU), denoted by the symbol Ü, can transact in any legal tender settlement currency. And is intended to enforce banking regulations while also protecting the financial integrity of the international banking system.

UMU, also known as Unicoin, is powered by artificial intelligence and follows a central banking monetary policy framework. To ensure consistent purchasing demand, low price volatility, and annual asset pricing targets.

Ü also adheres to the IMF’s recent crypto asset policy recommendations and can be configured to operate in accordance with the central banking regulations of each participating jurisdiction.

Banks are able to connect their SWIFT codes and bank accounts to a UMU digital currency wallet. So that they can conduct SWIFT-like cross-border payments over rails of digital currency instead of the correspondent banking system, all while receiving the best wholesale FX rates and instantaneous real-time settlement.

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It is forbidden to use the Universal Monetary Unit (UMU) as legal tender when negotiating domestic prices or international trade agreements, according to legislation that has been created in collaboration with a number of sovereign states.

According to Darrell Hubbard, executive director of the DCMA and the “chief architect” of UMU. UMU strengthens the international monetary system by assisting the IMF in fulfilling its stated mandate of providing economic and financial stability to its member countries.

“UMU is a game-changer in how cross-border payments are transacted and mitigates against seasonal and systemic local currency depreciation,” Hubbard says.