UAE Launches First Licensed Dirham-Backed Stablecoin on ADI Chain
The UAE has entered the stablecoin arena with DDSC, a dirham-pegged digital currency approved by the Central Bank and now live on ADI Chain. This institutional-grade LAYER 2 network serves as the exclusive settlement layer for the token, which is fully backed 1:1 by UAE dirham reserves held under custody by First Abu Dhabi Bank.
Two financial heavyweights anchor the project: International Holding Company, a market cap leader, and FAB, the UAE's largest bank by assets. The partnership combines IHC's investment heft with FAB's banking infrastructure, including fiat reserve custody and distribution channels across 20 markets.
ADI Chain's architecture positions DDSC as both a payments rail and settlement solution, reflecting the UAE's push to digitize financial infrastructure while maintaining strict regulatory compliance. The central bank's explicit licensing signals institutional confidence in the stablecoin framework.
