Today, the Global Holding Company, Sirius International Holding, and First Abu Dhabi Bank announced that the UAE dirham-backed stablecoin “DDSC” has received approval from the Central Bank of the UAE, enabling its official launch. This marks a significant milestone in the advancement of regulated digital finance in the country.
The new currency utilizes the blockchain network of the ADI Foundation, an advanced second-layer technology developed by the Abu Dhabi-based institution.
“DDSC” is based on a stablecoin initiative that was first unveiled in April 2025 by the Global Holding Company and First Abu Dhabi Bank. Today, it enters its operational phase with the addition of Sirius International Holding, the technology arm of Global Holding Company, to support deployment and integration efforts, and to enhance institutional adoption of the currency.
This stablecoin is designed to serve as a regulatory-compliant digital financial instrument, intended for institutional and governmental uses. It aims to support 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.
Customers of First Abu Dhabi Bank are expected to access this currency through several approved platforms, facilitating institutional and corporate uses while adhering to the highest standards of compliance, transparency, and operational integrity.
The currency will operate on the blockchain network developed by the ADI Foundation, which has been specifically engineered to meet governance, scalability, and institutional performance requirements. This network aims to connect 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” solidifies the UAE’s position at the forefront of the regulated digital finance landscape and reflects the growing maturity of stablecoins as essential components of modern financial infrastructure.
Commenting on this development, Syed Basar Shuaib, CEO of Global Holding Company, stated, “The stablecoin ‘DDSC’ represents a pivotal point in the digital transformation of the financial sector in the UAE. With the Central Bank’s approval and our transition to active operation, we are committed to providing a robust infrastructure that meets institutional standards, enhances resilience, accelerates innovation, and expands regulated digital payment horizons. As a programmable stablecoin backed by the UAE dirham, this currency is designed to modernize payment, settlement, and treasury management processes, enabling secure and automated value transfer.” He added that it includes future capabilities like machine-to-machine (M2M) transactions and trade between artificial intelligence agents as the independent economy evolves.
Fatoon Hamdan Al Mazrouei, Head of Personal and Business Banking, Wealth Management, and Premium Clients Group at First Abu Dhabi Bank, remarked, “This achievement confirms that stablecoins can be responsibly integrated into the financial system when designed in accordance with strict regulatory frameworks and advanced risk management standards. As the global bank of the UAE, First Abu Dhabi Bank is facilitating the DDSC to seamlessly blend regulatory oversight with the blockchain infrastructure, providing secure and scalable solutions for institutional clients and governmental entities amid the digital economy’s growth in the country.”
Ajay Hans Raj Bhatia, CEO of Sirius International Holding Group, added, “With the move to operationalize ‘DDSC’, we are entering a new phase of regulated digital finance. Sirius is proud to support this national initiative by accelerating adoption and making practical institutional applications available on the ground, supported by the sovereign blockchain infrastructure developed by the ADI Foundation and underpinned by clear regulatory leadership from the UAE.”
With official approval now in place, this new currency embarks on its operational phase, embodying a critical step towards aligning institutional finance with the evolving digital economy centered around digital assets.