DDSC, the UAE dirham-backed stablecoin developed through the collaboration between IHC, First Abu Dhabi Bank (FAB) and Sirius International Holding, has received the go-ahead from the Central Bank of UAE to go live on key Virtual Assets Regulatory Authority (VARA)-regulated exchange platforms.
The Middle East Stablecoin Association (MESA), the region's first industry body dedicated exclusively to stablecoins, today announced that it has been incorporated in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region as a Non-Profit Incorporated Organisation (NPIO).
IHC, a global investment company focused on building dynamic value networks, on Thursday announced the execution of an AED110 million (approximately $30 million) transaction using DDSC on ADI Chain, the institutional Layer-2 blockchain developed by ADI Foundation.
Wego, an online travel marketplace in MENA, has partnered with Triple-A, a global payment institution, to introduce stablecoin payments for travel bookings, further expanding the range of payment options available to travellers booking flights and other travel services.
The UAE has taken a decisive step into regulated digital currency infrastructure after the Central Bank of the UAE (CBUAE) approved the launch of the dirham-backed stablecoin, DDSC, paving the way for institutional-grade blockchain-based payments in the country.
Beyon Money, part of the Beyon Group, has announced the successful go-live of its partnership with SwiftX, a global money transfer operator (MTO).
Deus X Pay, a licensed provider of stablecoin transaction solutions, announced a strategic partnership with Titan Aviation, a full-service aircraft management company, providing global aviation services headquartered in Dubai.
