UAE Beats the World at Crypto While You Were Still Figuring Out Venmo

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Finance

What to know (or pretend to know at your next dinner party):

  • USDU is basically the cool kid in the stablecoin playground, backed 1:1 by reserves at fancy banks like Emirates NBD and Mashreq. Mbank is also there, probably bringing snacks.
  • Aquanow is the new wingman, helping USDU mingle with institutions outside the UAE. Because even stablecoins need a social life.

UNDER EMBARGO UNTIL 29TH JANUARY, 10 AM GST (aka, don’t tell your mom yet)

So, the Central Bank of the UAE (CBUAE) just approved the country’s first USD-backed stablecoin under their Payment Token Services Regulation (PTSR). Big deal, right? According to a press release on Thursday, this is like the UAE showing up to the crypto party in a tuxedo while everyone else is still in sweatpants.

Universal Digital is the mastermind behind the USDU token, and they’re regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Basically, they’ve got more certifications than a LinkedIn influencer.

The reserves for USDU are held 1:1 in safeguarded onshore accounts at Emirates NBD and Mashreq, with Mbank. Because nothing says “trust me” like a 1:1 ratio and a bunch of banks with fancy names.

This move puts the UAE ahead of the U.S., EU, and most of Asia in the stablecoin game. So, yeah, while you were still trying to figure out how to split the brunch bill on Venmo, the UAE was out here revolutionizing digital currency. Go figure.

“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’s like the first time someone brought a charcuterie board to a potluck-game changer.”

Aquanow, the digital asset infrastructure firm, is now USDU’s global distribution partner, helping it make friends outside the UAE. Because even stablecoins need a little international flair.

“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. Translation: “We’re all in on this, and you should be too.”

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2026-01-29 09:08