2026-01-29 12:37:34

The US dollar is the currency of the United States, so why are so many people around the world interested in crypto USD?!

The Central Bank of the United Arab Emirates has approved Universal Digital to issue the USD-pegged stablecoin USDU.

On January 29, according to CoinDesk, the Central Bank of the UAE approved the country's first dollar-backed stablecoin USDU under its "Payment Token Service Regulations." The stablecoin is issued and managed by the crypto company Universal Digital, which is regulated by the Abu Dhabi Global Market Financial Services Regulatory Authority.

USDU is pegged 1:1 to the US dollar reserves, with the funds held in safeguarded accounts at onshore banks such as the UAE National Bank and Mashreq Bank. This marks the first time a dollar stablecoin is officially operating under a central bank payment regulatory framework. Aquanow has been appointed as the global distribution partner, providing access to USDU for institutions outside the UAE in permitted regions. $AVAX

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