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DDSC gets UAE Central Bank nod to partner with VARA-regulated exchanges
DDSC has demonstrated institutional-scale capabilities, with over Dh150 million transacted to date, showcasing the scalability, resilience and operational readiness of the ecosystem
- PUBLISHED: Fri 3 Jul 2026, 10:08 PM
DDSC, the UAE dirham-backed stablecoin developed through a collaboration between IHC, First Abu Dhabi Bank (FAB) and Sirius International Holding, has received a No Objection Certificate (NOC) from the Central Bank of the UAE (CBUAE) to go live on selected Virtual Assets Regulatory Authority (VARA)-regulated exchange platforms.
DDSC is pegged 1:1 to the UAE dirham and settles on ADI Chain, the institutional Layer-2 blockchain developed by ADI Foundation. Since its launch, DDSC has demonstrated institutional-scale capabilities, with over Dh150 million transacted to date, showcasing the scalability, resilience and operational readiness of the ecosystem.
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Subject to meeting the NOC requirements, DDSC will be able to go live on selected VARA-regulated exchange platforms, making it easier for users to access, buy and redeem DDSC through compliant channels.
Beyond institutional use
The partnership with selected regulated platforms also extends DDSC beyond institutional use. Once available through these platforms, DDSC can support everyday payments – such as a shopper paying a merchant, a business settling with a supplier, or a transfer of funds between people – all denominated in AED and settled on-chain rather than through slower conventional systems. For retail users and merchants in the UAE, that means a familiar unit of account with the speed and low cost of blockchain.
As a regulated UAE dirham-backed stablecoin, DDSC provides a local currency alternative to the predominantly US dollar-denominated stablecoins used across global digital asset markets. By enabling transactions directly in UAE dirhams, DDSC supports greater efficiency for domestic payments while strengthening the country's digital financial infrastructure.
“Following the successful demonstration of DDSC at institutional scale, this next phase expands its potential reach to businesses and individuals through selected VARA-regulated platforms, supporting faster, more efficient and fully regulated digital transactions in UAE dirhams,” said Syed Basar Shueb, CEO of IHC.
“The approval broadens access to regulated digital payments, enabling more businesses and individuals to transact securely in UAE dirhams. By providing access to DDSC through selected VARA-regulated exchange platforms, we are making regulated digital payments more accessible across the financial ecosystem,” said Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group at FAB.
“By extending DDSC beyond institutional applications, we are creating new opportunities for businesses and consumers to transact securely, efficiently and confidently in UAE dirhams,” said Ajay Hans Raj Bhatia, CEO of Sirius International Holding.
