Central bank clears UAE dirham stablecoin DDSC for VARA platforms

3 min read

DDSC, a UAE dirham-backed stablecoin developed by IHC, First Abu Dhabi Bank and Sirius International Holding, has received a no objection certificate from the Central Bank of the UAE to go live on selected VARA-regulated exchange platforms. Pegged 1:1 to the dirham and settling on ADI Chain, DDSC has processed more than Dh150 million to date, showing scalability and operational readiness. Subject to final NOC requirements, the token can expand from institutional use to retail and merchant payments, enabling faster, lower-cost AED-denominated on-chain settlements and offering a local alternative to US dollar stablecoins in digital asset markets.

DDSC cleared to operate on VARA-regulated exchanges after Dh150 million testing