Central Bank of the UAE approves US dollar-backed stablecoin USDU

The USDU stablecoin is issued by the crypto company Universal Digital, which is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). USDU reserves are held on a 1:1 basis in protected domestic accounts at Universal’s banking partners Emirates NBD, Mashreq, and Mbank. Digital asset infrastructure company Aquanow has been appointed as the global distribution partner to support institutional access to USDU outside the UAE.