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DDSC, the UAE dirham stablecoin developed by IHC, First Abu Dhabi Bank (FAB) and Sirius International Holding, has received a No Objection Certificate (NOC) from the Central Bank of the UAE (CBUAE) to go live on selected Virtual Assets Regulatory Authority (VARA)-regulated exchange platforms. The approval was granted after DDSC met CBUAE’s requirements.
What the NOC unlocks
The approval lets DDSC move beyond institutional use into everyday transactions once it is live on the selected exchange platforms:
- Users will be able to access, buy and redeem DDSC through compliant exchange channels.
- A shopper paying a merchant, a business settling with a supplier, or a person transferring funds to another person can all do so in dirhams, settled on-chain instead of through conventional payment rails.
- Retail users and merchants get a dirham-denominated asset with blockchain settlement speed and cost, rather than a foreign-currency stablecoin.
The companies have not named which VARA-regulated exchange platforms will carry DDSC, or given a timeline for when it goes live on them.
Also, UAE Stablecoin Licensing: What the CBUAE Framework Means for Crypto Businesses in 2026
Why DDSC dirham stablecoin CBUAE approval matters
Here’s how it will benefit the businesses and users.
For the UAE’s digital asset market
Most stablecoins used across global digital asset markets are denominated in US dollars. DDSC gives the UAE a dirham-denominated alternative that settles domestically, which IHC, FAB and Sirius say supports efficiency in local payments and adds to the country’s digital financial infrastructure. The NOC is also notable on its own: it is a direct CBUAE sign-off for a stablecoin to reach retail users through regulated exchanges, at a time when regulators across the region are still working out how digital assets fit into existing payment rules.
For businesses and retail users
Once DDSC is live on the approved exchanges, the practical change for a shopper, merchant or business is a payment option denominated in the currency they already use, settled on a blockchain rather than through card networks or bank transfers. That combination, a familiar unit of account plus on-chain settlement speed, is aimed directly at everyday use rather than at institutional treasury or settlement activity.
What’s next
DDSC has already processed more than AED 150 million in transactions at an institutional scale and previously executed one of the region’s largest stablecoin transactions. The next phase is retail and merchant access through the VARA-regulated platforms named in the NOC approval, though IHC, FAB and Sirius have not disclosed which platforms, on what timeline, or with what transaction limits.
What is DDSC?
A UAE dirham stablecoin pegged 1:1 to the dirham, developed by IHC, First Abu Dhabi Bank (FAB) and Sirius International Holding, and settled on ADI Chain.
What did the CBUAE just approve?
A No Objection Certificate (NOC) allowing DDSC to go live on selected VARA-regulated exchange platforms.
How much has DDSC transacted so far?
More than AED 150 million since launch, according to the companies behind it.
What blockchain does DDSC run on?
ADI Chain, an institutional Layer-2 blockchain built by ADI Foundation.
Can retail users access DDSC?
Yes, once it is live on the approved VARA-regulated exchange platforms, for payments, transfers and merchant settlement in dirhams.
Editor’s take: This is a regulatory unlock. DDSC already existed and had processed AED 150 million in institutional transactions before this NOC. What changes now is that the retail users get a path to buy and redeem it through regulated exchanges. The real test is whether people actually choose a dirham stablecoin over dollar stablecoins that already have most of the liquidity and habit in place. IHC, FAB, and Sirius haven’t yet named which exchanges will carry DDSC, and that detail will say more about how quickly this actually reaches everyday users than the NOC itself.