- Enables seamless swapping between DDSC stablecoin and leading stablecoins, including USDC and USDT.
- Sets the stage for joint card issuance, merchant payment acceptance, and fiat on/off-ramp infrastructure for DDSC stablecoin across the UAE
Dubai — Fasset, the global regulated stablecoin-powered broker-dealer platform, today announced it will become the first VARA-regulated entity to list DDSC stablecoin upon approval from VARA, the dirham-backed stablecoin issued through the collaboration between IHC, First Abu Dhabi Bank (FAB) and Sirius International Holding, settled on ADI Chain.
As one of the first central bank-approved stablecoins pegged to a non-dollar currency, DDSC stablecoin delivers greater currency diversity and institutional credibility to a market dominated by dollar-pegged tokens. The listing comes as stablecoins become a primary driver of mainstream crypto adoption, with global circulation surpassing USD 310 billion. The milestone also underscores the role of compliant stablecoins in the digital-native financial system, aligned with advancing regulated stablecoin frameworks across the US, EU, and Gulf region.
“For a stablecoin to matter in people’s daily lives, it has to be trusted, regulated, and easy to use, and DDSC stablecoin delivers on all three,” said Mohammad Raafi Hossain, Co-Founder and CEO of Fasset. “Becoming the first platform to list the DDSC stablecoin is a milestone we don’t take lightly: it means our users can will be able to hold and move a dirham-backed stablecoin that carries the confidence of the UAE’s most established financial institutions, on a platform built for compliance from the ground up. This is a starting point, not a destination. Our shared ambition is to make DDSC stablecoin something people can spend, accept, and convert as easily as cash, through cards, merchants, and seamless on- and off-ramps across the UAE.”
“DDSC stablecoin was built to bring the trust of the dirham into a regulated digital economy, and it has proven that at institutional scale,” said Mohammed Ahmed, CEO of DDSC. “Listing on Fasset marks the next phase, bringing that same regulated, dirham-denominated infrastructure to businesses and individuals across the UAE. Working with a compliance-first platform reflects exactly how we intend to grow DDSC stablecoin: responsibly, transparently, and always within a clear regulatory framework.”
The listing is only the first move. Fasset and DDSC stablecoin are exploring the possibility to roll out a joint card programme, leveraging DDSC’s Stored Value Facility (SVF) enablement to facilitate card issuance in the UAE, and to take DDSC stablecoin into merchant and payment networks nationwide. They also plan to build fiat on- and off-ramp infrastructure for instant dirham-to-DDSC conversion and introduce swap functionality that makes DDSC stablecoin seamlessly exchangeable with USDC, USDT, and other major stablecoins.
“This stablecoin represents a major step forward for the UAE: a licensed, reserve-backed, dirham-denominated digital asset operating under central-bank oversight. It provides businesses, institutions, and consumers with a trusted foundation for using digital money in everyday payments, settlement, and broader financial services across the UAE.
Clear regulatory standards and rigorous oversight are critical to protecting users, strengthening market confidence, and ensuring that innovation develops responsibly within the UAEʼs financial ecosystem. We look forward to supporting the responsible adoption of DDSC stablecoin in the market, with transparency, consumer protection, and strong governance at its core,ˮ said Mehtap Onder, Managing Director at Fasset.
A State-Backed, Dirham-Denominated Rail
The listing lands as the UAE builds out a regulated, state-backed digital finance stack denominated in its own currency. DDSC stablecoin received approval from the Central Bank of the UAE (CBUAE) to go live in February 2026. It runs on ADI Chain, the region’s first institutional chain for stablecoins and real-world assets, which has since drawn collaborations with Mastercard, BlackRock, Franklin Templeton, and Chainlink.
In July 2026, DDSC stablecoin secured a No Objection Certificate from the CBUAE to distribute through selected platforms regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), the clearance that opens the stablecoin to retail and merchant use. Over AED 150 million, equivalent to approximately USD 40.8 million, has already been transacted across the network since launch.
For Fasset, the collaboration extends a regulation-first playbook that already spans multiple countries across the region and plugs its global user base into one of the region’s most closely watched digital-finance initiatives. Fasset currently supports more than three million wallets across 125 countries and processes USD 40 billion in transaction volume.
“Our partnership with Fasset is an important step in expanding access to DDSC stablecoin. By making the stablecoin available through a VARA-regulated platform, we are enabling businesses and individuals to access a regulated AED payment token,ˮ said Husam Habannakeh, Managing Director at DDSC. “This is part of our broader vision to build the infrastructure needed for seamless digital payments, settlement, and everyday use of regulated digital money.
For more information on DDSC, visit: https://www.ddsc.ai/.
