Bitcoin.com announced that, in cooperation with the Universal Digital Intl. Limited, it had access to USDU in its web and mobile wallets. The token is provided in the form of the ERC-20, and the user may hold, send and receive USDU while retaining control of the private key.
Initial open access and transfers
This access first covers basic functions other than wallet hosting. USDU will enter Bitcoin.com 's global user-friendly wallet system and can be used for Platform-designated services. The company indicated that the USDU payment function was also being advanced between users and between users and businesses, and that the exchange and sale function was to wait until third-party service providers had completed their support.
Bitcoin.com does not currently provide a full timetable, but the first phase has been clearly focused on asset storage and chain transfers. User access in different regions will continue to be limited by local regulatory rules.
USDU principal calls $1:1 reserve
USDU was released by Universal Digital Intl. Limited, a global market in Abu Dhabi. According to the issuer, each USDU is supported by a liquid dollar reserve of 1:1 and the funds are deposited in the regulated UAE bank. The issuer also publishes, for external review, monthly stock assurance reports issued by third-party accounting institutions.
Bitcoin.com states that one of the main reasons for choosing access to USDU is its relatively clear status of disclosure and regulation of reserves. In addition to the inventory of the reserve, an educational component will be included in the wallet on the stability of the French currency, the certificate of reserve and the issuance of compliance.
Regulatory coverage of both Emirates systems
According to public information, USDU was launched in January this year as the first dollar-stable currency to be registered with the UAE Central Bank as a “foreign payment token”. Under the current scope of registration, USDU can be used in the UAE for payments related to digital assets and derivatives of digital assets, but not as a common payment instrument in UAE retail payments.
In addition to central bank registration, Universal is also regulated by the Global Marketplace Financial Services Authority in Abu Dhabi, which issues French reference tokens to professional clients. This means that the scope of payment by the USDU in the UAE corresponds to different regulatory frameworks, as compared to its distribution arrangements in the financial free zone.
This year the dirham exchange route has been extended.
Before accessing Bitcoin.com, USDU established a exchange route with AE Coin in May this year. The system is supported by Al Maryah Community Bank, which is aimed primarily at institutional settlements, fund management and cross-border trading scenarios.
In addition, USDU ' s smart contract has been audited by CertiK, and distribution is performed by Aquanow, a licensed digital asset service provider. With access to Bitcoin.com's wallet, USDU coverage will be further expanded from regulated distribution channels to a private hosting scene for individual users.