January 30, 2026 2:16 PM
UAE central bank approves first USD-backed stablecoin
The Central Bank of the United Arab Emirates has approved the country’s first USD-backed stablecoin, marking a key step in the regulation of digital assets and payment tokens in the UAE. The USDU stablecoin has been approved under the central bank’s Payment Token Services Regulation. It is issued and managed by Universal Digital, a crypto firm regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market. The company said it has become the first foreign payment token...