UAE's central bank has approved a USD-backed stablecoin

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email UAE's central bank has approved a USD-backed stablecoin The USDU stablecoin is issued by Universal Digital, a crypto firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). By Ian Allison | Edited by Stephen Alpher Jan 29, 2026, 6:00 a.m. Make us preferred on Google Dubai UAE (Pexels, Pixabay modified by CoinDesk) What to know : Reserves backing USDU are held 1:1 in safeguarded onshore accounts at Universal’s banking partners: Emirates NBD and Mashreq, with Mbank. Digital asset infrastructure firm Aquanow has been appointed as a global distribution partner, supporting institutional access to USDU outside the UAE. UNDER EMBARGO UNTIL 29TH JANUARY, 10 AM GST The Central Bank of the United Arab Emirates (CBUAE) has approved the country’s first USD-backed stablecoin under the bank’s Payment Token Services Regulation ( PTSR ), according to a press release on Thursday. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . The issuance and management of the USDU token are handled by Universal Digital, which is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Reserves backing USDU are held 1:1 in safeguarded onshore accounts at Universal’s banking partners: Emirates NBD and Mashreq, with Mbank. The regulatory move means a USD stablecoin is now live and operational under a central bank payments regime, putting the UAE ahead of the U.S., EU, and much of Asia, the release stated. “USDU sets a new benchmark for regulated digital value,” said Juha Viitala, senior executive officer of Universal. “Being the first Foreign Payment Token registered by the UAE Central Bank - and supported by leading UAE banks - gives institutions the clarity and confidence they have been waiting for. It lays the groundwork for a more transparent and efficient digital-asset market in the UAE and beyond.” Digital asset infrastructure firm Aquanow has been appointed as a global distribution partner, supporting institutional access to USDU outside the UAE where permitted, Universal said. “We see growing institutional interest in regulated digital-value instruments, and Universal’s introduction of USDU is a timely step that supports this market’s maturation,” said Joel Van Dusen, Group Head of Corporate and Investment Banking, Mashreq. Stablecoin UAE More For You Pudgy Penguins: A New Blueprint for Tokenized Culture By CoinDesk Research Dec 30, 2025 Commissioned by Pudgy Penguins Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale. 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