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Fintech & Digital PaymentsNews|July 5, 2026, 09:51 AM
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DDSC Gets Vara Platform Access For UAE Dirham Stablecoin

BySendTech Times Fintech DeskNewsroom-edited, source-reviewed coverage
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 exchanges or a retail launch date remain outside the public record.

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

DDSC Moves Toward Retail Use Through Vara-Regulated Platforms

UAE dirham-backed stablecoin DDSC is becoming more accessible to consumers after receiving approval to operate on selected platforms regulated by Dubai’s Virtual Assets Regulatory Authority, or Vara.

The move follows a no-objection certificate from the UAE Central Bank and is intended to make it easier to access, buy and redeem the digital currency for everyday payments.

International Holding Company, which developed DDSC with First Abu Dhabi Bank and Sirius International Holding, said the token can support shopping, business payments and transfers between people.

Transactions are denominated in dirhams and settled on-chain, giving users a regulated digital alternative for payments rather than limiting DDSC to institutional or crypto-market activity.

DDSC is pegged 1:1 to the UAE dirham and settles on ADI Chain, the institutional Layer2 blockchain developed by ADI Foundation.

Access through Vara-regulated platforms is the condition needed for the stablecoin to reach a broader group of businesses and individuals, although the first exchanges and a consumer launch date have not been disclosed.

Institutional Activity Provides the Operating Base

IHC said more than Dh150 million ($41 million) has been transacted through DDSC since its launch.

The company described that activity as evidence of institutional-scale capabilities, including scalability, resilience and operational readiness.

In May, IHC executed a Dh110 million transaction using DDSC on the ADI Chain blockchain network.

IHC called it one of the largest single stablecoin transactions completed in the region.

“Following the successful demonstration of DDSC at institutional scale, this next phase expands its potential reach to businesses and individuals through selected Vara-regulated platforms, supporting faster, more efficient and fully regulated digital transactions in UAE dirhams,” said Syed Basar Shueb, chief executive of IHC.

Stablecoins are digital assets designed to remain tied to a fiat currency, liquid reserves such as government treasuries or commodities including precious metals.

Their value is generally less volatile than that of cryptocurrencies such as Bitcoin, while their online availability means users are not limited by banking hours or intermediary delays.

A Local-Currency Alternative Within Dubai’s Rules

The International Monetary Fund has said stablecoins could enable faster and cheaper payments, particularly across borders and for remittances, where traditional systems can be slow and costly.

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

IHC and FAB first announced the DDSC initiative in April last year to simplify payments and strengthen the UAE’s regulated digital-assets infrastructure.

The stablecoin received UAE Central Bank approval in February this year before obtaining the latest no-objection certificate for access to selected Vara-regulated platforms.

Vara was established in Dubai in March 2022 under the Dubai Virtual Asset Regulation Law, the emirate’s first law regulating virtual assets.

Its Virtual Assets and Related Activities Regulations 2023 require licensed businesses to apply risk-assurance and anti-money-laundering standards.

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

Its broader retail deployment now depends on the selected platforms, which have not yet disclosed the first exchange partners, consumer fees or launch date.

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