Abu Dhabi-based Universal Digital has launched USDU, the UAE's first USD-backed stablecoin to be registered as a Foreign Payment Token under the Central Bank of the UAE's Payment Token Services Regulation (PTSR). The registration marks a milestone for the Gulf state’s digital-asset framework, creating a regulated, USD-denominated settlement option for crypto activity in the UAE and positioning Universal as the pioneer Foreign Payment Token Issuer under the regime. The company emphasizes that regulators are guiding a transition path toward broader compliance, and USDU is described as the first USD stablecoin to complete that process. The token is issued as an ERC-20 token on Ethereum and is backed 1:1 by onshore USD reserves. Key takeaways USDU is the first USD-backed stablecoin to receive registration as a Foreign Payment Token under the UAE’s PTSR, signaling a formalized onshore settlement rail for digital assets. Universal Digital operates under dual oversight from the UA...