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Bank & market adoptionT2Bank / FMIMiddle East

DDSC dirham stablecoin receives CBUAE approval for selected VARA-regulated exchanges

Published Quote last verified

  • Stablecoins
  • Regulation

Executive summaryFact

DDSC, the UAE dirham-backed stablecoin developed by IHC, First Abu Dhabi Bank and Sirius International Holding, received a No Objection Certificate from the Central Bank of the UAE to go live on selected VARA-regulated exchange platforms. DDSC is pegged 1:1 to the dirham and settles on ADI Chain.

Primary source: DDSC (press release via Zawya) ↗

Key factsFact

Event
Regulatory approval
Jurisdiction
Middle East
Source
DDSC (press release via Zawya)
Source tier
Tier 2 · Bank / FMI
Product
Stablecoin issuance

Adoption statusFact

  • ApprovedFirst Abu Dhabi Bank (with IHC, Sirius)— DDSC dirham stablecoin received a CBUAE No Objection Certificate for selected VARA-regulated exchanges

See the bank adoption tracker

From the sourceFact

“The UAE dirham-backed stablecoin is issued through the collaboration between IHC, First Abu Dhabi Bank (FAB) and Sirius International Holding, and settles on ADI Chain.”

Verbatim from DDSC (press release via Zawya)✓ string-matched against the live page 2026-10-22

Why it matters for banksAnalysis

A bank-backed, local-currency stablecoin in the Gulf is moving from institutional settlement towards exchange distribution under central bank approval, a model other regional banks may follow.

Editorial analysis, not advice.

AIAI-assisted: summary and analysis were drafted with AI from the primary source and are the editor’s responsibility. AI-drafted from the primary source; quote string-matched by scripts/verify.mjs. Methodology · Corrections · Report an error

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