“The USDU stablecoin is issued by Universal Digital, a crypto firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).”, — write: www.coindesk.com
The issuance and management of the USDU token are handled by Universal Digital, which is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
Reserves backing USDU are held 1:1 in safeguarded onshore accounts at Universal’s banking partners: Emirates NBD and Mashreq, with Mbank.
The regulatory move means a USD stablecoin is now live and operational under a central bank payments regime, putting the UAE ahead of the US, EU, and much of Asia, the release stated.
“USDU sets a new benchmark for regulated digital value,” said Juha Viitala, senior executive officer of Universal. “Being the first Foreign Payment Token registered by the UAE Central Bank – and supported by leading UAE banks – gives institutions the clarity and confidence they have been waiting for. It lays the groundwork for a more transparent and efficient digital-asset market in the UAE and beyond.”
Digital asset infrastructure firm Aquanow has been appointed as a global distribution partner, supporting institutional access to USDU outside the UAE where permitted, Universal said.
“We see growing institutional interest in regulated digital-value instruments, and Universal’s introduction of USDU is a timely step that supports this market’s maturation,” said Joel Van Dusen, Group Head of Corporate and Investment Banking, Mashreq.
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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The WLD token surged after Forbes reported that Sam Altman’s OpenAI is planning to use Worldcoin to fight bots online.
- World’s WLD token jumped sharply on Wednesday after a Forbes report said Sam Altman’s OpenAI is exploring a biometric social network to combat online bots.
- The report said OpenAI has considered using Apple’s Face ID or World’s iris-scanning Orb device to verify human users, although no formal partnership between OpenAI and World has been confirmed.
- World Network, which has raised $135 million and says it has verified millions of people, is pitching its World ID system as a privacy-focused way to prove personhood online even as it faces regulatory scrutiny in countries such as Kenya and the UK
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