AED stablecoin DDSC will soon be on VARA regulated crypto exchanges
DDSC, the UAE Central Bank regulated UAE dirham-backed stablecoin developed through the collaboration between IHC, International Holding Company (IHC) Holding the most valuable holding company in the Middle East and one of the world’s largest investment firms, First Abu Dhabi Bank (FAB) and Sirius International Holding, recently received a no objection certificate (NOC) from the Central Bank of the UAE to be listed on select VARA ( Virtual Asset Regulatory Authority) regulated crypto exchange platforms. This will make it easier for users to access, buy and redeem DDSC through compliant channels.
As per the announcement the approval, which will be granted upon fulfillment of the Central Bank’s requirements will pave the way for broader adoption of AED denominated stablecoins for digital payments and settlement across UAE’s digital economy.
DDSC is pegged 1:1 to the UAE dirham and settles on ADI Chain, the institutional Layer-2 blockchain developed by ADI Foundation.
Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group, FAB noted, “By providing access to DDSC through selected VARA-regulated exchange platforms, we are making regulated digital payments more accessible across the financial ecosystem. At FAB, we remain committed to delivering innovative payment solutions that support the evolving needs of our clients, while contributing to the UAE’s vision to build a globally leading digital economy.”
Already DDSC has transacted AED 150 million to date. When DDSC gets listed on regulated crypto exchanges it will be able to support everyday payments, such as a shopper paying a merchant, or a business settling with a supplier. It will even be used for transferring funds between people all settled on chain in an efficient, quicker and less costly manner.
For retail users and merchants in the UAE, that means a familiar unit of account with the speed and low cost of blockchain.
Syed Basar Shueb, CEO of IHC noted that this is a major milestone in the development of UAE’s regulated digital financial ecosystem and that IHC is committed to advancing innovative financial infrastructure that strengthens the UAE’s position as a global leader in digital assets and next-generation financial services.
In May 2026, International Holding Company (IHC) carried out a $30 million transaction using DDSC.
DDSC will be competing with other AED stablecoins such as AE Coin by Mbank, USDU, Zand’s AED stablecoin, as well as RAK Bank’s upcoming AED stablecoin among others.
According to ChainAlysis stablecoins account for the majority of all cryptocurrency activity in the UAE at 51%, easily surpassing both Bitcoin (19%) and Ethereum (9%). Transaction volume received by services in the UAE grew by 55% year-over-year to hit $9.8 billion in the first half of a recent tracking period.
