The United Arab Emirates' International Holding Company (IHC) has successfully completed a major transaction worth 110 million dirhams (approximately $30 million) using the DDSC stablecoin on the ADI Chain blockchain. The company described this transfer as one of the largest publicly announced stablecoin operations in the UAE. This was reported by Cointelegraph.com reporting .
This transaction took place following the approval by the Central Bank of the UAE of a dirham-pegged stablecoin ecosystem launched in partnership with IHC, First Abu Dhabi Bank, and Sirius International Holding. The DDSC stablecoin operates on the ADI Chain layer-2 blockchain developed by the ADI Foundation. The system is primarily designed for institutional purposes such as cross-border payments, treasury operations, and trade settlements.
According to IHC representatives, this operation aims to demonstrate the capability of the DDSC and ADI Chain platforms to support large-scale financial activity. Future plans include creating payment corridors that connect the Middle East with global markets. For context, First Abu Dhabi Bank is the country's largest bank by assets, and IHC is one of the largest investment companies.
UAE financial institutions and digital asset companies continue to expand regulated stablecoin infrastructure. For instance, in January, Universal Digital introduced the first USD-pegged USDU stablecoin registered by the Central Bank. Additionally, global exchanges like Crypto.com and Kraken are obtaining the necessary licenses to expand their operations in the region.
Furthermore, in May, BNY announced it would develop institutional custody services for assets like Bitcoin and Ethereum in Abu Dhabi in partnership with Finstreet and the ADI Foundation. Such steps are further strengthening the UAE's position as a global crypto hub.
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