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
Circle Settles $68M in USDC Transfers Across 8 Entities
Circle used USD Coin to settle $68M across eight entities in under 30 minutes via its Circle Mint treasury platform.
The stablecoin workflow replaced bank wires that usually take one to three days, enabling faster intercompany treasury settlements.
Circle Mint maintained treasury
CryptoFrontNews24m ago
In February, the number of stablecoin transactions reached 1.8 trillion, a record high, with USDC accounting for 70%.
Gate News reports that on March 8th, according to data from the Allium website, the number of stablecoin transactions in February reached 1.8 trillion, setting a new monthly record. Among them, USDC transactions accounted for 70% of the total market data, approximately 1.26 trillion, about twice the number of USDT transactions; USDT transactions were approximately 514 billion.
GateNews1h ago
AI agent completes 140 million transactions in nearly 9 months, with 98.6% of USDC transactions
Gate News Report, March 8 — Circle Global Market Head Peter Schroeder cited Enterprise Onchain data showing that over the past nine months, AI agents have completed 140 million payments with a total transaction volume of $43 million. Among these, 98.6% of transactions were settled in USDC, with an average transaction amount of $0.31. Currently, the number of AI agents with purchasing power has exceeded 400,000.
GateNews1h ago
Circle Moves $68 Million in 30 Minutes Using USDC, Showing Real Power of Stablecoin Payments
Circle recently demonstrated the transformative potential of stablecoins in corporate finance by swiftly transferring $68 million using USDC, showcasing advantages like instant settlement and improved transparency over traditional banking methods.
CryptometerIo2h ago
A newly created wallet deposits 2 million USDC into Hyperliquid to open short positions on BTC and ETH.
Gate News Report, March 8th: According to Onchain Lens monitoring, a newly created wallet deposited 2 million USDC into Hyperliquid, opened a 5x leveraged BTC short position and a 20x leveraged ETH short position, with the current position value approximately equivalent to 10 million USD.
GateNews8h ago
