ChainCatcher report: According to official announcements, Abu Dhabi-based International Holding Company (IHC) has completed a $30 million (110 million AED) transaction using the UAE dirham-backed stablecoin. This marks the first large-scale institutional adoption of the stablecoin since receiving regulatory approval. The transaction was executed on ADI Chain, an institutional-grade Layer-2 blockchain developed by the ADI Foundation, using the DDSC stablecoin. The official statement noted that this multi-million-dollar transaction demonstrates the operational readiness of the digital currency ecosystem and its capacity to handle institutional-scale transaction volumes. DDSC was developed through a collaboration between IHC, First Abu Dhabi Bank, and Sirius International Holding, with technical support provided by the ADI Foundation. The UAE Central Bank’s approval of DDSC earlier this year is part of a broader regulatory initiative, following the licensing of several other dirham-pegged tokens. IHC’s CEO stated in the announcement: “This transaction demonstrates that the UAE’s digital infrastructure is active, resilient, and ready to support real-world institutional financial activities.”
IHC Completes $30M AED Stablecoin Transaction in the UAE
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Summary
IHC executed a $30 million (AED 110 million) on-chain transaction using a UAE dirham-backed stablecoin in the UAE. The DDSC stablecoin, developed in partnership with First Abu Dhabi Bank and Sirius International Holding, has been approved by the Central Bank of the UAE. Institutional adoption is demonstrated by the transaction occurring on the ADI Chain, a Layer-2 blockchain by the ADI Foundation, marking the first major institutional use of the token following regulatory approval.
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