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The first official dollar stablecoin arrives in the United Arab Emirates
Universal Digital, pioneer of the regulated stablecoin
On June 13, 2024, an unprecedented milestone for digital finance in the United Arab Emirates is marked. On that day, the Central Bank of the United Arab Emirates (#CBUAE ) officially approved the launch of the $USDU, the country's first stablecoin backed by the US dollar and registered under the Payment Token Services Regulation (#PTSR ). Behind this project, Universal Digital, a company based in Abu Dhabi, becomes the very first foreign issuer of payment tokens to receive this regulatory green light in the region. The company operates under the auspices of the Financial Services Regulatory Authority (#FSRA ) of Abu Dhabi Global Market (ADGM), allowing it to legally issue a token referenced to a fiat currency.
On June 13, 2024, an unprecedented milestone for digital finance in the United Arab Emirates is marked. On that day, the Central Bank of the United Arab Emirates (#CBUAE ) officially approved the launch of the $USDU, the country's first stablecoin backed by the US dollar and registered under the Payment Token Services Regulation (#PTSR ). Behind this project, Universal Digital, a company based in Abu Dhabi, becomes the very first foreign issuer of payment tokens to receive this regulatory green light in the region. The company operates under the auspices of the Financial Services Regulatory Authority (#FSRA ) of Abu Dhabi Global Market (ADGM), allowing it to legally issue a token referenced to a fiat currency.
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