Following the publication of new guidance by the Jersey Financial Services Commission (JFSC) focussing on the growing trend of asset tokenisation, Jersey’s first stablecoin has been launched.
Carey Olsen and IQ-EQ, have supported Deep Blue Limited on the launch of DBUSD, Jersey’s first stablecoin.
DBUSD is a US dollar denominated stablecoin, collateralised by low-risk assets and supported by an extensive ecosystem of key partners across tokeniser, blockchain foundations, distribution channels, Oracle and technology providers, including Archax, the UK Financial Conduct Authority’s regulated digital assets firm. DBUSD’s use cases include cross-border payments, remittances, trading and collateral.
Carey Olsen advised on the legal and regulatory aspects of DBUSD’s issuance following the recent publication of the JFSC’s pragmatic Guidance Notes on the ‘Tokenisation of Real World Assets’. IQ-EQ will provide ongoing operational and administrative support to DBUSD’s Jersey issuer.
