AED stablecoin DDSC gets first VARA crypto exchange listing on Fasset

Fasset, the global regulated stablecoin-powered broker-dealer platform, is listing the DDSC stablecoin ( an AED stablecoin developed through the collaboration of IHC Group, First Abu Dhabi Bank (FAB) and Sirius International Holding, settled on ADI Chain.

In July DDSC 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, this comes as stablecoins become a primary driver of mainstream crypto adoption, with global circulation surpassing $310 billion. It reinforces the role that compliant stablecoins in the digital-native financial system, aligned with advancing regulated stablecoin frameworks across the US, EU, and GCC region.

Mohammed Raafi Hossain, Co Founder and CEO of Fasset noted, that stablecoins have to be trusted and regulated to matter in people’s lives. He added that listing DDSC on Fasset is not a decision taken lightly. He explains, ” It means our users can hold and move a dirham-backed stablecoin that carries the confidence of the UAE’s most established financial institutions, on a platform built for compliance from the ground up. This is a starting point, not a destination. Our shared ambition is to make DDSC stablecoin something people can spend, accept, and convert as easily as cash, through cards, merchants, and seamless on- and off-ramps across the UAE.”

“DDSC stablecoin was built to bring the trust of the dirham into a regulated digital economy, and it has proven that at institutional scale,” said Mohammed Ahmed, CEO of DDSC. “Listing on Fasset marks the next phase, bringing that same regulated, dirham-denominated infrastructure to businesses and individuals across the UAE. Working with a compliance-first platform reflects exactly how we intend to grow DDSC stablecoin: responsibly, transparently, and always within a clear regulatory framework.”

Additionally, Fasset and DDSC plan to roll out a joint DDSC card program leverging DDSC’s Stored Value Facility (SVF) to take DDSC stablecoin into merchant and payment networks nationwide.

They also plan to build fiat on- and off-ramp infrastructure for instant dirham-to-DDSC conversion and introduce swap functionality that makes DDSC stablecoin seamlessly exchangeable with USDC, USDT, and other major stablecoins.

“We look forward to supporting the responsible adoption of DDSC stablecoin in the market, with transparency, consumer protection, and strong governance at its core,ˮ said Mehtap Onder, Managing Director at Fasset.

DDSC stablecoin received approval from the Central Bank of the UAE (CBUAE) to go live in February 2026. It runs on ADI Chain, the region’s first institutional chain for stablecoins and real-world assets, which has since drawn collaborations with Mastercard, BlackRock, Franklin Templeton, and Chainlink.

In July 2026, DDSC stablecoin secured a No Objection Certificate from the CBUAE to distribute through selected platforms regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), the clearance that opens the stablecoin to retail and merchant use. Over AED 150 million, equivalent to approximately USD 40.8 million, has already been transacted across the network since launch.

Fasset currently supports more than three million wallets across 125 countries and processes USD 40 billion in transaction volume.

” By making the stablecoin available through a VARA-regulated platform, we are enabling businesses and individuals to access a regulated AED payment token,ˮ said Husam Habannakeh, Managing Director at DDSC. “This is part of our broader vision to build the infrastructure needed for seamless digital payments, settlement, and everyday use of regulated digital money.

The announcement today comes a week after Network International piloted the first usage of a regulated AED backed stablecoin, DDSC, owned by Sirius International Holding, within stores in the UAE. Customers who hold DDSC wallets will be able to utilize the AED stablecoin at selected merchant locations using Network’s existing point of sale devices. The first transaction was carried out at Marcs and Spencers.