UAE Launches First USD-Pegged Stablecoin Under Central Bank Registration
The UAE has officially entered the regulated stablecoin market with the launch of USDU, the first U.S. dollar-pegged stablecoin registered by the Central Bank of the UAE. Issued by Universal Digital Intl Limited, USDU is fully backed 1:1 by U.S. dollars held in accounts at major UAE banks, including Emirates NBD, Mashreq, and M Bank. It aims to enable compliant digital-asset settlements under the country’s payment token framework.
USDU is registered as a Foreign Payment Token and may not be used for domestic UAE payments but can be used for purchasing virtual assets domestically and as a payment method internationally. The launch reflects growing institutional interest in regulated digital-value instruments and supports the maturation of the digital-asset ecosystem in the UAE and beyond.
This development follows recent regulatory progress in the UAE, including RAKBank’s in-principle approval to issue a dirham-pegged stablecoin, highlighting the country's push toward a regulated multi-currency digital payments infrastructure.
TheNewsCrypto01/29 10:04
