IHC Executes $30M Dirham Stablecoin Transfer on ADI Chain
IHC completed a $30 million dirham-backed DDSC transfer on ADI Chain, the first large institutional use since the Central Bank of the UAE approved the stablecoin.
International Holding Company executed a $30 million (AED 110 million) transaction using the dirham-backed DDSC stablecoin on ADI Chain, an institutional Layer-2 blockchain developed by the ADI Foundation. The transfer is the first major institutional use of DDSC since the Central Bank of the UAE approved the token earlier this year.
DDSC was created through a partnership among IHC, First Abu Dhabi Bank and Sirius International Holding, with technical support from the ADI Foundation. ADI Chain is designed to increase throughput and add operational features for large financial flows.
Officials reported the transfer used on-chain regulated rails and that the network processed the institutional-sized volume. Project participants reported the transfer amount as approximately 110 million DDSC.
The Central Bank of the UAE approved DDSC earlier this year as part of a broader regulatory framework for tokenized dirham instruments. Two other dirham-linked tokens have advanced through licensing: AE Coin from Al Maryah Community Bank (Mbank) and AEDZ from Zand Bank, which is licensed as a regulated, multi-chain AED-backed stablecoin intended to operate on public blockchains.
IHC’s chief executive, Syed Basar Shueb, noted in a company statement: “Executing 110 million DDSC on ADI Chain is a clear signal that we are entering the next phase, where institutional-grade digital assets are not only viable, but operational at scale.”
Developers and participating institutions plan to expand institutional use and to build digital trade and payment corridors linking the Middle East with international markets. Project partners emphasized compliance and regulatory alignment as central to DDSC’s design.
Supporters of dirham-backed stablecoins contend these tokens can reduce costs and delays associated with traditional international banking and speed cross-border payments and trade settlement. The DDSC transfer acted as an early operational test of ADI Chain for institutional transactions.
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