UAE Central Bank Endorses USD-Backed Stablecoin Initiative

The UAE's central bank has given the green light to the USDU stablecoin, issued by Universal Digital, marking a significant move in the crypto space.

The Central Bank of the UAE has officially sanctioned the introduction of a USD-pegged stablecoin known as USDU. This digital currency is introduced by Universal Digital, a cryptocurrency company that operates under the regulations set forth by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).