Ultracoin (USDU)

This launch is a milestone because it solves a major legal headache for #crypto businesses in the UAE.

Under the Central Bank of the UAE’s (CBUAE) #Payment Token Services Regulation, transactions for digital assets and derivatives can only be settled in fiat (Dirham/ $USD) or a Registered Foreign Payment Token. While $USDC and $USDT are popular, they haven't held this specific CBUAE registration—making $USDU the only fully compliant USD settlement option for the country's regulated financial firms.

UAE unveils first central bank–approved stablecoin, challenging $USDC on home turf

The UAE has officially entered the stablecoin race. Universal Digital Intl launched USDU, the country’s first central bank–approved stablecoin, giving it a regulatory edge over Circle