Carey Olsen Advised Deep Blue On The Launch Of DBUSD, Jersey's First Stablecoin

Carey Olsen Advised Deep Blue on the Launch of DBUSD, Jersey's First Stablecoin

Carey Olsen has advised on the legal and regulatory aspects of DBUSD, a newly launched U.S. dollar-denominated stablecoin, which is collateralized by low-risk assets. Supported by an extensive ecosystem of key partners across tokenization, blockchain foundations, distribution channels, oracle, and technology providers, DBUSD is set to facilitate a range of use cases, including cross-border payments, remittances, trading, and collateral. Notably, Archax, a UK Financial Conduct Authority-regulated digital assets firm, is among its key partners.

The issuance of DBUSD follows the recent publication of the Jersey Financial Services Commission’s (JFSC ) pragmatic Guidance Notes on the tokenization of real-world assets. In addition to legal guidance from Carey Olsen, IQ-EQ will provide ongoing operational and administrative support to DBUSD's issuer in Jersey.

The Carey Olsen team was led by Partner and Head of Digital Assets Chris Griffin, supported by Regulatory Specialist Sophie Hancock and Associate Tshogofatso Dhlamini. Chris Griffin commented on the significance of the launch: "The launch of DBUSD is a fantastic result for Jersey and for Deep Blue. As a financial services jurisdiction, DBUSD's approval pathway with the JFSC was clear, showcasing that the Island is the perfect fit for institutional-grade digital asset products."

Suzanne Howe, Director at IQ-EQ, expressed her enthusiasm for collaborating on this landmark initiative, calling it a significant milestone for both Jersey and the broader digital currency landscape. She noted that this initiative highlights Jersey’s forward-thinking approach to financial innovation and looks forward to working closely with Deep Blue to establish DBUSD as a trusted solution for businesses.

Julien Bahurel, Founding Partner of Deep Blue, added, "It’s very exciting to launch a stablecoin from Jersey, which will help grow the ecosystem and provides a strong foundation for introducing new use cases in the digital asset space. We are delighted with the fruitful collaboration and professionalism of our partners in Jersey."