UAE dirham stablecoin (DDSC)
DDSC is a UAE dirham stablecoin launched by First Abu Dhabi Bank, the UAE's largest bank, with International Holding Company and its technology arm Sirius International Holding; the partners' first announcement, in April 2025, named FAB as its issuer, while the launch releases name the three together. They announced on 11 February 2026 that the Central Bank of the UAE had approved it to go live, and IHC reported an AED 110 million transfer in DDSC on 21 May 2026. It is issued on ADI Chain, which L2BEAT lists as a ZK rollup built on the ZK Stack that posts its state roots and data to Ethereum, at Stage 0. No issuer page names the token contract, so no figure is given.
In the record
8
Months since it was first seen
31
Institutions of its kind in the record
Other bank deployments
- BW-Bank (LBBW)Spot ETH trading for retail clientsSeptember 2026
- Standard CharteredDeliverable ETH spot trading for institutional clients in the UAE (Standard Chartered DIFC)September 2026
- Banque Delubac & CieETH staking for bank clientsJuly 2026
- Morgan StanleySpot ETH trading for retail clients on E*TRADEJuly 2026