The "DDSC" Currency Receives Approval from the Central Bank for Partnership with Selected Regulated Trading Platforms

03 July 2026

The UAE dirham-backed stablecoin “DDSC,” issued through a collaboration between International Holding Company (IHC), First Abu Dhabi Bank (FAB), and Sirius International Holding, has obtained a no-objection certificate from the Central Bank of the UAE (CBUAE) to make it available on selected trading platforms supervised by the Virtual Assets Regulatory Authority.

According to a press statement issued today, this approval — granted after fulfilling the Central Bank's requirements — represents a new achievement in the journey of launching DDSC, paving the way for wider adoption of a regulated digital asset denominated in UAE dirhams, to cover payment and settlement transactions across the UAE's digital economy.

It is worth noting that the DDSC stablecoin is pegged to the UAE dirham on a 1:1 basis, and is settled on the blockchain network of ADI Chain, an advanced Layer-2 technology developed by the ADI Foundation.

Since its launch, DDSC has demonstrated broad institutional capabilities, executing transactions exceeding AED 150 million to date — an indication of the system's scalability, resilience, and operational readiness. Subject to fulfilling the requirements of the no-objection certificate, DDSC will be made available through selected trading platforms supervised by the Virtual Assets Regulatory Authority, making it easier for users to access, purchase, and redeem the currency through channels compliant with approved regulatory frameworks.

The partnership with selected licensed platforms also contributes to expanding the use of the currency beyond institutions; once made available on these platforms, it will support everyday payments, such as consumer payments to merchants, settlement transactions between companies and suppliers, or money transfers between individuals — all denominated in UAE dirhams and settled on the blockchain network, providing a faster and more efficient alternative to traditional systems.

For individual users and merchants in the UAE, DDSC allows transacting in a familiar unit of value, while benefiting from the speed of blockchain technology and its lower cost.

As a leading, regulated stablecoin backed by the UAE dirham, DDSC provides a local-currency alternative to stablecoins often denominated in US dollars and used in global digital asset markets.

By enabling transactions directly in UAE dirhams, DDSC helps achieve greater efficiency in domestic payments, while strengthening the country's digital financial infrastructure.

Syed Basar Shueb, CEO of International Holding Company, said that this approval represents a new milestone achievement in the journey of developing the UAE's regulated digital financial system, and that after successfully proving the institutional-level capabilities of the DDSC stablecoin, this new phase expands its scope of use to include companies and individuals, through selected platforms licensed by the Virtual Assets Regulatory Authority, supporting the execution of faster, more efficient digital transactions fully regulated and denominated in UAE dirhams.

He added: “We affirm our commitment at International Holding Company to developing an innovative financial infrastructure that reinforces the UAE's leading global position in the field of digital assets and advanced financial services.”

Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group at First Abu Dhabi Bank, said that this approval opens up greater opportunities for the adoption of regulated digital payments, enabling more companies and individuals to carry out their transactions in UAE dirhams within a secure and trusted environment. She added that, by enabling access to the DDSC stablecoin through selected platforms licensed by the Virtual Assets Regulatory Authority, First Abu Dhabi Bank contributes to strengthening the use of regulated digital payments across the financial system, as part of its commitment to continuing to develop innovative payment solutions that keep pace with the evolving needs of its customers and support the UAE's vision of building a globally leading digital economy.

Ajay Hans Raj Bhatia, Group CEO of Sirius International Holding, said that obtaining the no-objection certificate from the Central Bank to make the DDSC stablecoin available on selected trading platforms licensed by the Virtual Assets Regulatory Authority is an important step towards enabling regulated digital payments for everyday use; and that by expanding the scope of DDSC's use into additional areas beyond institutional use, new opportunities are provided for companies and consumers to carry out their transactions in UAE dirhams safely, efficiently, and with confidence.

He added: “This important milestone reflects the strength of the collaboration between our partners, and our shared, ambitious vision to accelerate the future of digital finance in the UAE.”

This achievement represents an extension of the successful launch of the DDSC stablecoin, which was followed by the execution of one of the largest stablecoin transactions in the region, reinforcing the long-term vision shared by International Holding Company, First Abu Dhabi Bank, and Sirius to develop a trusted and regulated digital financial infrastructure, starting from the UAE and extending to regional and global markets.

With DDSC being made available through selected licensed platforms, the currency will support further uses in payments, settlement, and financial services, contributing to advancing the development of the digital economy in the UAE.

Source: Emirates News Agency (WAM)