January 29 News, Universal Digital Intl Limited announced the launch of the first USD stablecoin approved by the Central Bank of the UAE, USDU. This move makes the company the first foreign payment token issuer registered in the UAE, as well as the first of its kind registered under the UAE Payment Token Service Regulations (PTSR).
Universal stated that the launch of USDU marks an important milestone in the UAE’s development of regulated digital asset infrastructure. As a USD-pegged settlement token, USDU can be used for compliant interbank payments and digital asset settlements, meeting the UAE’s requirements that digital asset and derivative transactions must be settled in fiat currency or registered foreign payment tokens. Juha Viitala, Senior Executive at Universal, emphasized that USDU sets a new compliance standard for digital value, providing institutional users with a clear legal framework and confidence.
USDU is backed 1:1 by USD reserves held by Emirates NBD, Mbank, and Mashreq. Additionally, Universal has partnered with Aquanow, a regulated service provider under the Dubai Virtual Asset Regulatory Authority (VARA), to promote the application of USDU within a broader digital asset ecosystem through its regulated service provider network.
This development aligns with plans by stablecoin issuer Circle in the UAE. In December last year, Circle received a license from the Abu Dhabi Global Market Financial Services Regulatory Authority to operate as a money services business, with plans to promote USD stablecoins and on-chain payment infrastructure services in the UAE, Middle East, and Africa. USDC, the second-largest stablecoin by market cap globally, will work alongside USDU to facilitate compliant digital payments for enterprises, developers, and financial institutions.
Overall, the launch of USDU not only provides a safe and efficient USD settlement option for the UAE but also further promotes the development of the regulated digital asset market. This means that businesses and financial institutions in the Middle East can more conveniently use USD stablecoins for cross-border payments and on-chain settlements within a compliant framework, supporting the steady growth of the digital economy.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Rune Christensen-Linked Wallet Deposits $4M USDC to HyperLiquid, Opens Leveraged Oil Positions
Gate News bot message, a wallet associated with Rune Christensen (@RuneKek) deposited $4 million USDC into HyperLiquid. The wallet subsequently opened long positions in $CL with 20x leverage and $BRENTOIL with 7x leverage on @tradexyz. These trades were executed during ongoing geopolitical tensions.
GateNews31m ago
A whale deposited 2.18 million USDC into HyperLiquid and opened a 10x leveraged short position on ETH.
Gate News Report, March 7 — Onchain Lens monitoring shows that a whale address starting with 0x218A deposited 2.18 million USDC into HyperLiquid and opened a 10x leveraged short position on ETH. This whale has previously accumulated profits of over $11.8 million.
GateNews3h ago
USDC Treasury mints an additional 250 million USDC on the Solana chain
Gate News Report, March 6 — According to Whale Alert monitoring, the USDC Treasury just minted 250 million USDC on the Solana chain, worth approximately $250 million.
GateNews13h ago
MetaDAO community vote approves liquidation proposal for Ranger Finance
MetaDAO community approved the proposal to liquidate Ranger Finance on March 6, including removing RNGR/USDC liquidity, transferring USDC reserves to the MetaDAO team, and returning intellectual property. 5,047,250 USDC will be allocated to RNGR holders, with a snapshot time of March 13 at 8:00.
GateNews19h ago
Jupiter launches on-chain virtual card Jupiter Card, supporting USDC payments
Gate News Announcement, March 6, Jupiter announced the launch of Jupiter Card, an on-chain virtual card fully integrated into Jupiter Mobile. Users can make purchases at all locations accepting Visa using their wallet balance. Jupiter Card is a Visa Infinite and Platinum virtual card, with a transaction fee of 1-1.8%, by
GateNews20h ago
