/T2Bank / FMI🌍Middle East
Liv by Emirates NBD, Universal and Aquanow to deliver the first integration of a CBUAE-registered USD-backed stablecoin into the UAE digital banking ecosystem
Liv, Emirates NBD's digital bank, has partnered with Universal Digital Intl Ltd and Aquanow ME FZE to introduce USDU, which the release describes as the UAE's first CBUAE-registered USD-backed stablecoin, into the Liv ecosystem. Universal issues USDU, registered by the Central Bank of the UAE under its Payment Token Services Regulation, and says it is backed 1:1 by physical US dollar reserves safeguarded with UAE banks and verified through monthly attestations; Aquanow provides the infrastructure behind both USDU distribution and Liv X crypto trading. Liv is also running a three-month zero-fee crypto trading campaign.
Emirates NBD (press release via Zawya)