Deployments · platform by ADI Foundation

DDSC UAE dirham stablecoinNew

A dirham-backed payment token initiated by International Holding Company (IHC) and First Abu Dhabi Bank, with IHC's technology arm Sirius, and issued by AEDC Stable Coin under Central Bank of the UAE licences. It runs only on ADI Chain, a ZKsync-based Ethereum layer 2 built by the Abu Dhabi ADI Foundation. The central bank approved it in February 2026; FAB custodies the dirham reserves and offers the token to its clients, aimed at payments, treasury, high-value settlement and trade. IHC settled an AED 110 million transaction with it in May 2026, and in July a central bank no-objection letter let selected VARA-regulated exchanges list it for wider use. The issuer reported AED 110.2 million in circulation on 1 May 2026; a later dashboard reading showed AED 50 million.

Live (limited) since 11 Feb 2026^[1]i — Institutional use first; exchange access from July 2026. · Reviewed 22d ago i

Assets

Stablecoin^[4]

UAE dirham payment token backed one-to-one by dirham reserves

Networks

ADI Chain Public, permissionless^[1][5]

Use cases i

Primary issuance^[4]Payments^[2][6]Treasury management^[1]Cross-border payments^[2]

Jurisdictions

United Arab Emirates

Participants

• AEDC Stable CoinIssuer^[4][5]United Arab Emirates
• First Abu Dhabi BankCustodian, Distributor^[3][1]United Arab Emirates
• International Holding CompanyClient or user^[2]United Arab Emirates
• Sirius International HoldingTechnology provider^[1][5]United Arab Emirates
• ADI FoundationPlatform provider^[1]United Arab Emirates
• CroweAuditor or reserve attestor^[4]United States
• FassetDistributor^[7]United Arab Emirates
• In July 2026 the central bank allowed listing on selected VARA-regulated exchanges; only Fasset has been named so far. The white paper names a third shareholder, 1968B SPV RSC Limited (33%).^[6]

Operates under

• CBUAE Payment Token Services RegulationUnited Arab Emirates · Regulator rule or rulebook^[4]

Likely relevant regulation i

• Dubai Virtual Assets and Related Activities Regulations 2023 (VARA regime)United Arab Emirates

Assets

• IssuesDDSC (DDSC)^[4]

Metrics i

• AED 110.2mDDSC in circulation · as of 1 May 2026 · on ADI Chain^[4]
  Issuer's transparency page (reserve composition dated 1 May 2026).
• ~AED 50mDDSC in circulation · as of 4 Jul 2026 · on ADI Chain^[8]
  Unlock's reading of the live dashboard; the static page we opened still shows the 1 May figure.
• over AED 150mCumulative DDSC transactions · as of Jul 2026^[6][8]

Timeline

1. Happened Jul 2026 (month only) · Scope expansion · recorded 17 Oct 2026
   A central bank no-objection certificate lets DDSC go live on selected VARA-regulated exchanges, opening buying and redemption to businesses and individuals.^[6][8]
2. Happened 21 May 2026 · Volume milestone · recorded 17 Oct 2026
   IHC executes an AED 110 million (about $30 million) transaction in DDSC on ADI Chain.^[2]
3. Happened 11 Feb 2026 · Regulatory approval · recorded 17 Oct 2026
   The Central Bank of the UAE approves DDSC to go live on ADI Chain; Sirius joins the project and FAB prepares to offer it to clients.^[1][3]
4. Happened Apr 2025 (month only) · Announcement · recorded 17 Oct 2026
   IHC and First Abu Dhabi Bank announce a planned dirham-backed stablecoin.^[1]

Sources i