Abu Dhabi, Feb 11 / WAM / Today, International Holding Company (IHC), Sirius International Holding, and First Abu Dhabi Bank (FAB) announced that the dirham-backed stablecoin 'DDSC' has received approval from the UAE Central Bank, allowing its official launch, marking a milestone in the country's regulated digital finance journey.

The new currency is based on the ADI Foundation's proprietary blockchain network, an advanced Layer 2 technology developed by the Abu Dhabi-based foundation.

DDSC is based on the stablecoin initiative first announced in April 2025 by IHC and FAB, now entering its operational phase with Sirius International Holding, IHC's technology arm, joining the project to support deployment and integration, and boost institutional adoption.

The currency is designed as a digital financial instrument compliant with regulatory frameworks, tailored for institutional and government use, enabling high-value applications within a trusted regulatory framework, including payments and collections, high-value settlements, treasury management, trade flows and supply chains, as well as programmable financial services for regulated entities.

The currency is expected to be made available to FAB customers through several approved platforms, supporting institutional and corporate uses, with the highest standards of compliance, transparency, and operational integrity.

The currency will operate on ADI Foundation's proprietary blockchain, specifically developed to meet governance, scalability, and institutional performance requirements. The network aims to bridge traditional financial systems with blockchain-based digital asset ecosystems, enabling regulated entities to participate in the digital economy without compromising oversight, security, or compliance.

The launch of DDSC strengthens the UAE's position at the forefront of the regulated digital finance landscape and reflects the growing maturity of stablecoins as a fundamental component of modern financial infrastructure.

Commenting on the step, Syed Basar Shueb, CEO of IHC, said: 'The DDSC stablecoin represents a pivotal milestone in the digital transformation of the UAE's financial sector. With the UAE Central Bank's approval and our transition to the operational phase, we are providing a reliable infrastructure with institutional standards that enhances flexibility, accelerates innovation, and expands the horizons of regulated digital payments. As a programmable stablecoin backed by the UAE dirham, this currency is designed to modernize payment, settlement, and treasury management operations, while enabling secure and automated value transfer, including future machine-to-machine (M2M) transactions and AI agent commerce, amid the evolving autonomous economy.'

On her part, Fatou Hamdan Al Mazrouei, Head of Personal & Business Banking, Wealth Management, and Premier Banking at FAB, said: 'This achievement confirms that stablecoins can be responsibly integrated into the financial system when designed in line with strict regulatory frameworks and advanced risk management standards. As the UAE's global bank, FAB enables DDSC to seamlessly merge regulatory oversight with blockchain infrastructure, providing secure and scalable solutions supporting institutional and government clients as the country's digital economy evolves.'

Ajay Hans Raj Bhatia, CEO of Sirius International Holding, said: 'With DDSC entering operation, we move to a new phase of regulated digital finance. Sirius is proud to support this national initiative by accelerating adoption and enabling practical institutional applications on the ground, based on the sovereign blockchain infrastructure developed by the ADI Foundation, backed by the UAE's clear regulatory leadership.'

With the official approval for the launch of the new currency, it enters its operational phase, embodying a crucial step towards aligning institutional finance with the evolving digital economy based on digital assets.