Fasset, a Dubai-based digital asset platform, said on September 16 that it plans to list DDSC, a United Arab Emirates (UAE) dirham-backed stablecoin launched by IHC, First Abu Dhabi Bank, and Sirius International Holding.

The listing is subject to approval from Dubai’s Virtual Assets Regulatory Authority (VARA).

Fasset said users will be able to swap DDSC with USDC and USDT.

The companies may later expand into cards, merchant payments, and dirham on- and off-ramps in the UAE.

The release said DDSC received approval from the Central Bank of the UAE to launch in February 2026. It later obtained a no-objection certificate for distribution through selected VARA-regulated platforms.

Fasset is already listed on VARA’s public register, suggesting the remaining step relates to approval for DDSC’s listing on Fasset rather than Fasset’s own licensing.

Under the UAE’s payment token rules, dirham stablecoins must be fully backed by reserves and redeemable at par, and DDSC is live on ADI Chain.

🔗 Source: Fasset