UAE Central Bank Approves Dirham-Backed Stablecoin DDSC for VARA-Regulated Exchange Listings
Summary
The Central Bank of the UAE has granted a no-objection certificate to DDSC, a dirham-backed stablecoin, allowing it to be listed on VARA-regulated exchanges. The stablecoin maintains a 1-to-1 peg to the UAE dirham and aims to compete with dominant U.S. dollar stablecoins that control over 90% of the market. This approval will enable retail and merchant payments across the UAE through VARA-approved platforms.
Source
bskyUAE Central Bank Approves Dirham-Backed Stablecoin DDSC for VARA-Regulated Exchange Listingsbriefly.coKey quotes
· 3 pulledThe Central Bank of the UAE issued a no-objection certificate to the dirham-backed stablecoin DDSC, allowing it to list on regulated exchange platforms.
DDSC provides a 1-to-1 peg to the UAE dirham and is designed to compete with U.S. dollar stablecoins that hold over 90% of the market.
The approval enables listing on VARA-approved platforms to expand retail and merchant payments across the UAE.
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