stable coins
By Dan Saada
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What DDSC Actually Is. DDSC is a stablecoin backed by the UAE's national currency, the dirham.
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Why IHC's Move Matters. It's one thing for a startup or a crypto-native firm to experiment with stablecoins.
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What Could Come Next. The broader question now is whether other UAE companies follow IHC's lead.
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International Holding Company just pulled off something nobody in the Gulf has done at this scale.
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Thirty million dollars. Not a pilot. Not a sandbox test. An actual live transaction, settled in a dirham-backed digital currency that only recently launched.
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DDSC is a stablecoin backed by the UAE's national currency, the dirham. The whole point of pegging it to the dirham is stability — you don't get the wild price swings that come…
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The stablecoin is designed to handle digital payments both inside the UAE and across borders.
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It's one thing for a startup or a crypto-native firm to experiment with stablecoins. It's another thing entirely when a heavyweight institutional player like IHC puts $30 million…
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Large institutions don't move this kind of money through an untested system without doing serious due diligence first.
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See also: ECB Puts Euro Stablecoin Growth on Notice, Warns EU Ministers of Bank and Policy Risks
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And the timing isn't random. Global interest in stablecoins has surged in recent years, with governments and central banks from Singapore to Europe actively working on digital…
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IHC leaning into DDSC is kind of the logical next step.
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The broader question now is whether other UAE companies follow IHC's lead. One $30 million transaction, however historic, doesn't reshape a financial system on its own.
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Cross-border trade is probably the most obvious near-term use case. If DDSC can meaningfully cut the cost and time of settling international transactions, sectors like…
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Read also: Fenwick & Wests $54 Million FTX Deal Leaves a $525 Million Lawsuit Looming
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