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Crypto
Binance partners with Ondo Finance, returns to tokenised stock trading after two years
Binance has returned to the tokenised stock market through a partnership with Ondo Finance, The Block reported on Feb. 24. The service will offer tokenised shares and ETFs tied to major U.S. companies including Apple, Google, Tesla and Nvidia via Binance Alpha and Binance Wallet. Binance previously launched tokenised stock trading in 2021 but halted it due to regulatory pressure. The new offering is approved by Abu Dhabi’s Financial Services Regulatory Authority and will not be available in the United States.
Crypto
Abu Dhabi firm launches first U.S. dollar stablecoin registered in UAE
Abu Dhabi Universal Digital has launched USDU, a U.S. dollar-based stablecoin after completing registration with the UAE central bank, Cointelegraph reported on Jan. 29. Cointelegraph said USDU is the first foreign payment token in the UAE to comply with the central bank’s payment token service rules and to be officially registered. The firm is under dual regulation and must meet standards for reserves, governance, disclosures and operational controls.
Crypto
Binance launches first traditional asset-linked perpetual futures, starting with gold and silver
Binance has launched perpetual futures contracts based on traditional assets that track gold and silver, The Block reported on Jan. 8. The contracts are settled in the U.S. dollar-pegged stablecoin tether (USDT) and keep the same 24-hour crypto futures structure. The products include XAUUSDT for gold and XAGUSDT for silver, offered via Nest Exchange Limited, a Binance affiliate approved by Abu Dhabi Global Market’s Financial Services Regulatory Authority.