UAE Central Bank Approves First USD-Backed Stablecoin, USDU
- The Central Bank of the United Arab Emirates (CBUAE) has approved the USDU token under its Payment Token Services Regulation (PTSR).
- USDU is managed by Universal Digital, regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
- Reserves for USDU are held at a ratio of 1:1 in safeguarded accounts with Emirates NBD and Mashreq.
- Aquanow has been appointed as a global distribution partner for USDU, facilitating institutional access outside the UAE.
- This initiative positions the UAE ahead of other regions like the U.S., EU, and much of Asia in stablecoin regulation.
The launch of USDU marks a significant step in establishing regulated digital assets within the UAE’s financial framework, enhancing transparency and efficiency in digital transactions.
With reserves held securely and institutional support from major banks, USDU sets a new benchmark for stablecoins in regulated markets.
