In a landmark development for the Middle Eastern financial sector, the Central Bank of the United Arab Emirates has granted formal approval for the operational launch of DDSC, a UAE dirham-backed stablecoin. The regulatory endorsement enables consortium partners International Holding Company (IHC), First Abu Dhabi Bank (FAB), and Sirius International Holding to proceed with the implementation of this pioneering digital currency initiative.
The stablecoin will function on ADI Chain, an institutional-grade Layer-2 blockchain infrastructure developed by the Abu Dhabi-based ADI Foundation. This strategic deployment represents a significant advancement in bridging conventional institutional finance with the rapidly evolving digital asset economy, while maintaining rigorous compliance standards and operational integrity.
Initially announced in April 2025 through a collaboration between IHC and FAB, the project now enters its live operational phase with Sirius International Holding joining to facilitate deployment, integration, and institutional adoption strategies. The stablecoin is slated to become accessible to FAB customers through multiple approved digital platforms, specifically designed to serve institutional and enterprise applications.
DDSC’s architecture supports sophisticated financial applications within a regulated framework, including high-value payment processing, treasury operations, trade finance, supply chain flows, and programmable financial services for regulated entities. The stablecoin’s programmable capabilities are engineered to modernize payment systems, settlement mechanisms, and treasury workflows while enabling secure, automated value transfers.
Syed Basar Shueb, CEO of IHC, emphasized the transformative potential: “With the Central Bank’s approval and our transition into live operation, we are delivering trusted, institutional-grade infrastructure that strengthens resilience, accelerates innovation, and expands what is possible in regulated digital payments.”
Futoon Hamdan AlMazrouei, Group Head at First Abu Dhabi Bank, highlighted the integration of regulatory oversight with blockchain technology: “FAB is enabling DDSC to seamlessly combine regulatory oversight with blockchain infrastructure, providing secure, scalable solutions that support institutional and government clients across the UAE’s evolving digital economy.”
Ajay Hans Raj Bhatia, Group CEO of Sirius International Holding, characterized this development as entering “a new phase of regulated digital finance” that would leverage ADI’s sovereign blockchain infrastructure and the UAE’s regulatory leadership to unlock real-world institutional applications.