UAE Dirham Stablecoin DDSC Cleared for Retail Distribution via VARA-Regulated Exchanges

The UAE dirham stablecoin DDSC has received a No Objection Certificate (NOC) from the Central Bank of the UAE (CBUAE), permitting its distribution through crypto exchanges regulated by Dubai’s Virtual Assets Regulatory Authority (VARA). The issuer is backed by International Holding Company (IHC), First Abu Dhabi Bank (FAB), and Sirius International Holding. No specific exchanges were named in the announcement, and actual listings remain contingent on meeting the conditions attached to the NOC.

The approval is structurally significant because it bridges two distinct regulatory regimes that govern UAE digital assets. Dirham-denominated payment tokens fall under the CBUAE’s Payment Token Services Regulation, while crypto trading venues in Dubai are supervised by VARA. Routing a CBUAE-licensed instrument through those venues therefore required explicit central bank sign-off, making this NOC the legal linchpin rather than a formality.

DDSC launched in February on ADI Chain, a Layer 2 blockchain developed by the ADI Foundation, which was itself founded by Sirius, an IHC subsidiary. The token was initially positioned for institutional settlement; retail and merchant payments now enter scope if exchange listings proceed. Notably, sovereign investor ADQ was named as a third founding partner when the initiative was first announced in April 2025 but has not appeared in communications since the February launch.