Liv, the digital banking platform operated by UAE-based banking group Emirates NBD, is introducing USDU, a US dollar-backed stablecoin, into its banking ecosystem through a partnership with Universal Digital Intl Ltd and digital asset infrastructure provider Aquanow ME FZE.
The integration will give Liv customers access to USDU through the bank’s existing mobile application, allowing them to manage traditional banking services and digital asset holdings within a single platform. Universal is responsible for issuing the stablecoin, while Aquanow provides the infrastructure required for distribution and liquidity. Liv serves as the customer-facing banking channel.
The initiative expands Liv’s digital asset offering beyond cryptocurrency trading by introducing a regulated, dollar-denominated stablecoin directly into its banking application.
USDU is issued by Universal and registered with the Central Bank of the United Arab Emirates (CBUAE) under its Payment Token Services Regulation (PTSR). Aquanow, which operates as a broker-dealer licensed by Dubai’s Virtual Assets Regulatory Authority (VARA), supports the distribution infrastructure and liquidity required for the service.
Integration Builds on Liv’s Cryptocurrency Trading Services
The introduction of USDU follows Liv’s expansion into digital assets through the launch of cryptocurrency trading under its Liv X service in 2025. Aquanow also serves as the infrastructure partner for that offering.
With the latest integration, Liv is extending its digital asset capabilities from cryptocurrency trading to include a stablecoin designed to maintain a consistent value against the US dollar. The development provides customers with access to a dollar-backed digital asset through an application they already use for everyday financial activities.
Aquanow will provide the digital asset infrastructure and liquidity arrangements supporting both USDU distribution and cryptocurrency trading through Liv X. This approach allows the two services to operate through a common infrastructure framework rather than relying on separate technology systems.
The unified structure is intended to streamline digital asset operations while providing customers with a consistent experience across the bank’s existing and newly introduced services.
Emirates NBD Group Head of Retail Products and Chief Digital Officer of Retail Banking and Wealth Management Rohit Garg said the integration would provide customers with a regulated and transparent way to access digital assets through their everyday banking application. He also positioned the development as an extension of the bank’s earlier cryptocurrency trading initiative launched in 2025.
USDU Reserve Structure and Regulatory Compliance
USDU is designed to maintain a one-to-one relationship with the US dollar, with its backing provided through physical dollar reserves held at banks in the UAE. Universal makes monthly reserve attestations publicly available to provide transparency regarding the stablecoin’s backing.
Its registration under the CBUAE’s PTSR framework places the token within the UAE central bank’s regulatory structure for payment token services.
Aquanow Chief Executive Officer Phil Sham explained that operating stablecoin distribution and cryptocurrency trading through a single infrastructure system brings together a centrally registered stablecoin issuer, a VARA-licensed broker-dealer, and a digital bank. The arrangement is intended to connect the different stages of digital asset services through regulated infrastructure.
Universal Senior Executive Officer Juha Viitala said USDU had been developed to facilitate transparent, US dollar-backed settlement within the UAE’s regulatory environment. He also highlighted that Liv customers would be able to access and trade the stablecoin through the same application used for their regular banking requirements.
UAE Digital Banking Moves Toward Integrated Financial Services
The partnership reflects the growing convergence of conventional banking and digital financial services in the UAE. By incorporating a registered stablecoin into a bank-owned digital platform, the participating companies are seeking to make regulated digital assets more accessible to mainstream banking customers.
The arrangement combines CBUAE-registered stablecoin issuance, VARA-licensed digital asset infrastructure, and Emirates NBD‘s banking distribution network within a connected service framework.
The structure also illustrates how financial institutions can incorporate blockchain-based assets without requiring customers to depend on separate cryptocurrency platforms for access.
As regulated digital asset services expand across the UAE, the integration could provide a model for connecting stablecoin payments, cryptocurrency trading, and traditional banking through a unified digital banking environment.
