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IHC Executes First AED-Backed Stablecoin Deal Worth $30M

Abu Dhabi's International Holding Company (IHC) said it has completed a $30 million transaction, equivalent to AED 110 million, using the UAE's dirham-backed stablecoin. The company described the deal as the first adoption of the stablecoin by a major institutional participant. The transaction was processed on ADI Chain, a Layer-2 blockchain developed by the ADI Foundation. The DDSC stablecoin was co-developed by IHC, First Abu Dhabi Bank, and Sirius International Holding, and has received approval from the Central Bank of the UAE. IHC's CEO said the transaction underscores the strength and resilience of the UAE's digital infrastructure.
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