💰 A company from Abu Dhabi launches the first stablecoin in US dollars, registered in the UAE

📊 The Abu Dhabi company Universal Digital has introduced USDU, the first stablecoin backed by US dollars, officially registered with the Central Bank of the United Arab Emirates (CB UAE) in accordance with the Payment Token Services Regulation (PTSR).

🛡 This registration makes Universal the first issuer of foreign payment tokens in the UAE, providing a regulated option for settlements in US dollars for digital assets in the region.

💼 Universal is under the supervision of the Abu Dhabi Financial Services Regulatory Authority (FSRA) and now complies with the requirements of the CB UAE for payment token activities, which enhances management and operational control.

⚙️ USDU is an ERC-20 token on Ethereum, fully backed 1:1 by US dollars held in secured accounts at Emirates NBD and Mashreq, providing user trust through regulated banking storage and independent attestations.

🌍 This development is a significant step in the UAE's digital asset landscape, aligning with the broader goals of the country's financial innovations.