UAE Greenlights First Abu Dhabi Bank’s Dirham-Backed Stablecoin
First Abu Dhabi Bank’s dirham‑pegged stablecoin DDSC received approval from the Central Bank of the UAE and is now live on the ADI Chain blockchain. The regulated launch is a notable step for tokenized fiat in the UAE, offering a bank‑backed AED token that can be used for on‑chain settlement across payments and financial services.
Issuance by one of the region’s largest lenders may lower onboarding barriers for institutional users and open use cases in corporate treasury, payroll and remittances while keeping assets under local oversight. The approval signals growing regulatory acceptance of fiat tokens in the Gulf and could speed up cross‑border flows and P2P exchange activity; market participants should watch DDSC’s liquidity, redemption mechanics and compliance rules as adoption grows.