Bitcoin.com integrates UAE-registered US dollar stablecoin into self-custodial wallet
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin.com has integrated USDU, a US dollar-backed stablecoin registered with the Central Bank of the UAE, into its self-custodial web and mobile wallet. USDU, issued by Abu Dhabi-based Universal Digital, is the first Foreign Payment Token registered under the UAE central bank's Payment Token Services Regulation. The integration allows users to hold, send, and receive USDU, with plans to add swap and buy-sell features later via third-party providers.
Why it matters
The integration broadens access to USDU beyond institutional channels, enhancing its distribution to retail users through Bitcoin.com's wallet. Bitcoin.com also plans to accept USDU for certain services and aims to enable payments between users and merchants, potentially expanding the stablecoin’s practical use.
Key context
USDU was launched by Universal Digital in January and is regulated by both the UAE central bank and the Abu Dhabi Global Market’s Financial Services Regulatory Authority. Payments for digital assets in the UAE must be made using fiat currency or registered Foreign Payment Tokens like USDU. Prior distribution efforts included Zodia Custody adding support for USDU in July and the launch of a USDT-USDU liquidity pool on Uniswap in August.
Key numbers and entities
Entities involved include Bitcoin.com, Universal Digital, the Central Bank of the UAE, Abu Dhabi Global Market’s Financial Services Regulatory Authority, Zodia Custody, and Uniswap. No specific numerical figures apart from launch dates and months are provided.
What remains unclear
The announcement does not specify exact timelines for adding swap and buy-sell functionalities or the precise jurisdictions where USDU payments will be supported. It also does not detail the scope or scale of merchant adoption planned by Bitcoin.com.