The Central Bank of the UAE has granted a no-objection certificate to the dirham-backed stablecoin DDSC, allowing it to list on regulated exchange platforms.
Key Takeaways:
The Central Bank of the UAE granted an NOC to the DDSC stablecoin, moving it past a 2026 institutional phase.DDSC offers a 1-to-1 dirham peg to challenge the U.S. dollar stablecoins that command over 90% of the market.Approved VARA platforms will next list DDSC to scale retail and merchant payments across the UAE.The certificate confirms that DDSC has met the central bank’s compliance, asset-backing and operational standards. By granting the clearance, the central bank allows approved VARA exchanges to host and trade the token, transitioning DDSC from a private corporate network into public retail channels.
The platform enables peer-to-peer transfers, merchant payouts and supplier invoices to settle instantly in dirhams. The transition to retail exchanges follows an institutional trial in which DDSC processed more than $40 million (150 million dirhams), in transactions to test its stability and capacity.
“This approval represents another important milestone in the development of the UAE’s regulated digital financial ecosystem,” said Syed Basar Shueb, CEO of IHC.
