UAE Stablecoin DDSC Launches On ADI Chain

DDSC launches on the layer 2 ADI Chain as more dirham-backed local stablecoins are offering UAE enterprise clients faster payment settlement.

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Disclosure: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct their own due diligence at all times.
DDSC stablecoin based on the Dirham currency has been launched in the UAE on the ADI Chain, as businesses seek faster payment and asset settlement alternatives (Karthik Unsplash)

DDSC stablecoin has launched on ADI Chain.

This Dirham-backed stablecoin live on the layer 2 chain with a collaborative effort from several UAE technology, banking, and enterprise participants. Led by ADI Foundation, Sirius International Holding, IHC (International Holding Company), FAB (First Abu Dhabi Bank) and approved by the UAE Central Bank.

The UAE landscape is seeing the proliferation of both local and foreign fiat-backed stablecoins being launched under the the 3 distinct regulatory frameworks (CBUAE for national oversight, FRSA across Abu Dhabi and VARA in Dubai).

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Ron is the founder of Stablecoin News and contributes to the coverage of stablecoins developments worldwide.

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