Universal Digital International Limited, regulated by the Financial Services Regulatory Authority in the Abu Dhabi Global Market, announced the launch of the stablecoin $USDU, the first dollar-backed stablecoin registered as a foreign payment token under the Payment Token Services Regulation in the UAE, making the company the first issuer of registered foreign payment tokens with the Central Bank of the United Arab Emirates.

Under the Payment Token Services Regulation, digital asset payments and their derivatives are only permitted in the UAE using fiat currencies or a registered foreign payment token, making the availability of a registered token essential to ensure compliance with the laws. The token #USDU provides the first registered token under a clear and legally compliant settlement option for the digital asset market in the UAE.

The reserves backing USDUUSDT are held at a 1:1 ratio in secure local accounts at Emirates NBD and Mashreq Bank, while Mbank supports Universal as a strategic banking partner for companies. The reserves are independently audited monthly by a global accounting firm. This level of transparency reflects emerging global standards in regulatory frameworks, such as those in the European Union, Japan, and some American frameworks.

Universal also collaborates with AECoin, the first licensed stablecoin pegged to the UAE Dirham in the UAE, to enable the future conversion of USDU to AECoin for local settlement.
$USDC $USD1 $USDT