Dirham-backed stablecoin DDSC launches on ADI Chain with UAE approval license

TLDR

• DDSC is live on ADI Chain and is backed 1:1 by UAE dirham reserves.
• The UAE Central Bank approved and licensed DDSC, per the release.
• IHC and First Abu Dhabi Bank initiated the stablecoin project.
• FAB provides custody for fiat reserves and supports distribution via banking rails.

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The press release states DDSC is backed 1:1 by UAE dirham reserves. It also says DDSC operates exclusively on ADI Chain as its settlement layer. This means the token is issued and transferred on that network only.

The release describes ADI Chain as an institutional-grade Layer 2 network. It says the chain is designed for national-scale deployment and compliance needs. The statement also frames DDSC as digital cash for payments and settlement.

Licensing and the project structure

The release states the UAE Central Bank approved and licensed DDSC.  It describes DDSC as the registered entity that issues and distributes the token.  It adds that ADI Chain provides the infrastructure for on-chain activity.

International Holding Company and First Abu Dhabi Bank initiated the project. The release describes IHC as a major investment company by market capitalization.  It describes FAB as the UAE’s largest bank by assets and market share.

The statement says FAB serves as the banking partner for the stablecoin.  It says FAB provides custody of fiat reserves that back DDSC.  It also says FAB brings banking reach in 20 markets into programmable rails.

Compliance, security, and the technology stack

The release says ADI Chain is built around compliance, efficiency, and security.  It says the ADI Foundation operates under the ADGM regulatory framework.  It adds that the chain aims to support regulated financial infrastructure.

For efficiency, the release says the chain uses ZKsync Airbender technology.  It describes this as a newer generation zero-knowledge proof system.  It also says ADI Chain is the first to implement this specific system.

For security, the statement says OpenZeppelin audited core contracts and systems.  It lists contract standards, infrastructure, and critical components in scope. It also says the audit supports institutional readiness for regulated deployment.

Ecosystem token and planned expansion

The release says ADI is the gas and utility token for ADI Chain operations. It says ADI pays for smart contract execution and transfers across the network.  It also says DDSC transfers rely on ADI to process on-chain transactions.

The statement links the launch to a broader roadmap for regional settlement.  It says the plan includes extending to other GCC currencies over time. It also mentions connecting to Africa through M-Pesa-linked infrastructure.

The release says ADI secured MOUs after mainnet activity began.  It names BlackRock, Mastercard, and Franklin Templeton in those MOUs. It also names M-Pesa Africa for remittance rails across eight African markets.

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