UAE Approves Dirham-Backed Stablecoin for Institutional Use

UAE Greenlights Institutional Stablecoin for Trade and Settlement | The Middle East Observer

Abu Dhabi’s leading financial and investment institutions have received regulatory approval to launch a UAE dirham-backed “institutional” stablecoin aimed at high-value settlement and trade transactions, marking a significant step in the country’s regulated digital finance strategy. The initiative is led by First Abu Dhabi Bank (FAB), which will issue the stablecoin, alongside International Holding Company […]

UAE Approves Dirham-Backed Stablecoin for Institutional Use

Central Bank of the UAE has granted regulatory approval for the launch of a dirham-backed stablecoin designed specifically for institutional use within the country’s financial system. The digital asset, known as DDSC, has been authorized to operate on the ADI Chain blockchain, allowing it to be deployed across regulated payment and settlement infrastructure. This approval represents a significant step in integrating blockchain-based financial in…