Hut 8 shares surged 33% after signing a $9.8B AI data center lease tied to its Beacon Point campus in Texas.
AE Coin and USD Universal are developing a regulated settlement system that enables near-instant conversion between UAE dirham and US dollar stablecoins, targeting institutional payments and treasury operations in the UAE. The companies disclosed the initiative in an announcement shared Thursday.
The conversion mechanism runs on infrastructure provided by Al Maryah Community Bank and is designed to facilitate liquidity management and cross-border payments within the UAE's payment token regulatory framework. Initial access will be available through Aquanow and Changer(dot)ae, both regulated digital asset service providers operating in the country.
USDU is regulated by the Financial Services Regulatory Authority in Abu Dhabi Global Market and is registered with the Central Bank of the UAE as a foreign payment token. AE Coin holds a license from the UAE central bank. Universal launched USDU in January as the first US dollar-backed stablecoin registered under the UAE's Payment Token Services Regulation framework for institutional and professional use.
USDU is currently approved for digital asset-related payments in the UAE but has not yet received clearance for general retail payments on the mainland. The companies said the framework could later be extended to trade finance and multi-currency settlement applications, including integrations with fintech platforms focused on cross-border payments.
The announcement coincides with a broader expansion of blockchain and digital asset infrastructure across the UAE. Ras Al Khaimah Free Zone Innovation City launched a blockchain-based business identity system for more than 1,000 registered companies this week, and Dubai's VARA regulator introduced rules in March for crypto exchange-traded derivatives covering leverage limits, suitability requirements, and disclosure standards.
Abu Dhabi has also attracted institutional players pursuing tokenized asset services. Animoca Brands received a Virtual Asset Service Provider license from VARA in February, digital asset custodian BitGo obtained a broker-dealer license in late 2025, and BNY announced this week that it is partnering with Finstreet and ADI Foundation to offer BTC and ETH custody from ADGM.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
