Emirates NBD's Liv adds USDU stablecoin through Aquanow partnership

Emirates NBD's digital bank Liv has integrated the USDU stablecoin through partnerships with Universal Digital International and Aquanow, according to a company announcement. The USDU stablecoin is registered by the Central Bank of the UAE under its Payment Token Services Regulation and is backed one-to-one by physical US dollar reserves held with UAE banks. The integration marks the first time such a stablecoin has been incorporated into UAE digital banking, according to the companies.

Integration structure and infrastructure#

Aquanow provides the infrastructure behind USDU distribution and Liv X, which began offering crypto services in 2025. Aquanow holds a licence from Dubai's Virtual Assets Regulatory Authority. Universal Digital International issues the USDU token, with monthly attestations verifying the reserves publicly available. The infrastructure enables customers to access the stablecoin within the Liv banking app alongside their existing banking services.

Reserve backing and verification#

Each USDU token is backed by physical US dollar reserves held with UAE banks on a one-to-one basis. The Central Bank of the UAE registered the token under its Payment Token Services Regulation. Monthly attestations of the reserves are published and publicly available. The reserve structure provides verification of the backing for each token issued.

Customer access and promotional terms#

Liv customers can now manage digital asset portfolios within the same app as their everyday banking. To mark the integration, Liv is offering zero fees on crypto purchases and sales for three months. The promotional period applies to both new and experienced users. Rohit Garg, Group Head of Retail Products and Chief Digital Officer of Retail Banking and Wealth Management at Emirates NBD, announced the integration.

Regulatory framework and licensing#

The USDU stablecoin operates under the Central Bank of the UAE's Payment Token Services Regulation. Aquanow, which provides the distribution infrastructure, holds a licence from Dubai's Virtual Assets Regulatory Authority issued for its operations supporting Liv X's crypto services that launched in 2025. The regulatory framework covers both the token registration and the infrastructure provider's licensing.