DFM ---ADX ---
6hIs AI Truly Boosting Productivity in the UAE? Efficiency Gains Offset by Human OversightBusiness
9hThe Evolution of Payments in the UAE: Beyond Traditional CardsBusiness
9hDollar Soars to 17-Month Peak Against Euro Amid Global Bond SelloffBusiness
9hUS Labor Market Stays Resilient Despite Economic HeadwindsBusiness
9hEmirates NBD customers face temporary mobile banking disruption due to maintenance activityBusiness
9hAbu Dhabi’s Innovative Leap Toward Smarter Air Quality ManagementBusiness
9hFrom Flight-Deck Altercation to Security Probe: The FZ1073 IncidentBusiness
9hInvestigation Reveals In-Flight Altercation Between Flydubai PilotsBusiness
9hEmirates Flight EK31 Diverted to Frankfurt Following In-Flight Medical EmergencyBusiness
13hEmirates Eyes Strong Start for New Dubai-Helsinki ServiceBusiness
18hUAE Central Bank Boosts 2027 GDP Forecast to 10.4%Business
1dThe iPhone Duo: A Look at Apple’s First Foldable SmartphoneBusiness
1dGlobal Islamic Finance Assets Projected to Reach $10.5 Trillion by 2030Business
1dAI Investment Drives Global Manufacturing GrowthBusiness
1dSouth Korea’s Strategic Investment Plan Faces Hurdles After U.S. AnnouncementBusiness
1dIndia's Manufacturing Sector Rebounds to Seven-Month HighBusiness
1dDubai Emerges as a Global Magnet for Investment and Urban DevelopmentBusiness
1dThe Rise of Small-Scale AI in Corporate EnvironmentsBusiness
1dThe End of Borders in Global FinanceBusiness
1dEmirates Launches Dubai+ to Showcase Emirati Culture In-FlightBusiness
1dHow Etihad Rail is Shifting Property Trends in the UAEBusiness
1dMubadala Dominates as Mena Sovereign Wealth Funds Navigate Geopolitical TurbulenceBusiness
1dAirtel Money Eyes $7 Billion Valuation in Major London IPOBusiness
1dAll Passengers Safe Following Emergency Landing of Flydubai FlightBusiness
1dThe Heroic Captain: How Smit Machchhar Prevented a Mid-Air DisasterBusiness

UAE Dirham-Backed Stablecoin DDSC Gains Regulatory Green Light for Exchange Integration

Sat, Jul 4, 2026(90d ago)Business

The UAE-based stablecoin, DDSC, has reached a significant milestone after receiving a No Objection Certificate (NOC) from the Central Bank of the UAE. Developed through a strategic partnership between IHC, First Abu Dhabi Bank (FAB), and Sirius International Holding, the stablecoin is pegged 1:1 to the dirham and functions on the ADI Chain. Having already processed over Dh150 million in institutional transactions, this regulatory approval clears the path for DDSC to be listed on select Virtual Assets Regulatory Authority (VARA)-regulated exchanges, marking its transition from an institutional tool to a broader financial instrument.

This expansion means that everyday users and businesses will soon be able to utilize the stablecoin for faster, low-cost digital payments, moving away from the sluggish speeds of traditional banking. By providing a local, regulated alternative to U.S. dollar-pegged assets, DDSC is set to bolster the UAE’s digital financial infrastructure. Executives from the founding firms highlighted that this development is a critical step in making secure, efficient, and compliant dirham-denominated transactions accessible to a wider audience, ultimately fostering a more modern and integrated domestic payment ecosystem.

Comments0
No comments yet. Be the first to share your thoughts.