SendTech Times
العربية
Fintech & Digital PaymentsPolicy|July 5, 2026, 09:51 AM
REGULATION WATCH:

DDSC Gets Vara Platform Access For UAE Dirham Stablecoin

BySendTech Times Fintech DeskNewsroom-edited, source-reviewed coverage|Source: The National Business
Newsroom brief

IHC said DDSC, the UAE dirham-backed stablecoin developed with First Abu Dhabi Bank and Sirius International Holding, can move onto selected Vara-regulated platforms after a UAE Central Bank no-objection certificate. The statement did not name the exchanges or a retail launch date.

Verified against source materialEdited by SendTech Times Fintech Desk
DDSC Gets Vara Platform Access For UAE Dirham Stablecoin
Image source: Wikimedia Commons / CC0 manual fallback image

DDSC Gets Vara Platform Access After UAE Central Bank No-Objection

UAE dirham-backed stablecoin DDSC is moving closer to retail use after IHC said the token received approval to operate on selected platforms regulated by Dubai's Virtual Assets Regulatory Authority.

IHC said DDSC also received a UAE Central Bank no-objection certificate for the move.

The company said platform access is intended to make it easier for users to access, buy and redeem DDSC for shopping, business payments and transfers between people, with transactions denominated in dirhams and settled on-chain.

The regulatory step keeps DDSC in a payments-infrastructure lane rather than only a crypto trading lane.

IHC said it developed DDSC with First Abu Dhabi Bank and Sirius International Holding.

IHC also said DDSC settles on ADI Chain, the institutional Layer2 blockchain developed by ADI Foundation.

IHC Says DDSC Has Processed More Than Dh150 Million

IHC said DDSC is pegged 1:1 to the UAE dirham and has processed more than Dh150 million, or $41 million, since launch.

The company said that transaction volume demonstrated institutional-scale capability, scalability, resilience and operational readiness.

IHC also said it executed a Dh110 million DDSC transaction on ADI Chain in May.

The company described that transaction at the time as one of the largest single stablecoin transactions completed in the region.

Syed Basar Shueb, chief executive of IHC, said the next phase expands DDSC's potential reach to businesses and individuals through selected Vara-regulated platforms.

He said the goal is faster, more efficient and fully regulated digital transactions in UAE dirhams.

Vara Rules Require AML Standards For Dubai Virtual-Asset Firms

IHC's statement said Dubai established Vara in March 2022 through the Dubai Virtual Asset Regulation Law for virtual assets.

IHC's statement said Vara's 2023 Virtual Assets and Related Activities Regulations require risk-assurance and anti-money-laundering standards for licensed businesses in Dubai.

The International Monetary Fund has said stablecoins could support faster and cheaper payments, particularly for cross-border transfers and remittances, where traditional systems can be slow and costly.

The IMF also said stablecoins could increase competition with established payment providers and make retail digital payments more accessible to underserved customers.

IHC said DDSC gives the UAE a local-currency alternative to predominantly US dollar-denominated stablecoins used in global digital-asset markets.

IHC did not name the Vara-regulated platforms, disclose retail fees, identify first exchange partners or provide a launch date for consumers.

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