A dollar-linked stablecoin built to meet Islamic finance standards is now operating on a new blockchain network anchored in the Middle East, adding a second digital currency to a settlement platform backed by some of Abu Dhabi’s biggest financial names.
Backed By Gulf Currencies, Not Just The DollarThe stablecoin has roughly $2.3 billion in circulation and runs on several major blockchains, including Ethereum, BNB Chain, Solana, and Tron. ADI Chain is its newest addition.
With PUSD now on board, institutions using the network can settle transactions in either a dollar-linked or dirham-denominated token operating on the same platform.
The ADI Foundation says the network is designed to support payment corridors across the Gulf, broader Middle East, and parts of Africa.
A $3 Trillion Market In The Crosshairs Sharia Law At A GlanceCertification from a board of qualified Islamic scholars is typically required, though the report does not confirm whether PUSD has obtained one.
PUSD’s move onto ADI Chain is a bid to change that, targeting corporate treasuries, exchanges, and payment processors looking for compliant digital settlement tools.
Global Players Already In The UAE SpaceThat puts PUSD in a field that includes some of the largest stablecoin issuers in the world, competing for a share of institutional transaction flow in one of the region’s most active financial hubs.
Featured image from Unsplash, chart from TradingView
