Architect-First

IHC executes a deal worth AED 110 million using the stablecoin "DDSC" 22 May 2026 00:55 Abu Dhabi (Al-Ittihad) International Holding Company (IHC) announced the completion of a significant deal worth AED 110 million (equivalent to $30 million), using the stablecoin backed by the UAE dirham "DDSC", via the blockchain network of ADI Foundation, an advanced layer-2 technology developed by the foundation for institutional use. Having recently obtained approval from the Central Bank of the UAE to launch DDSC, this transaction marks an important milestone for the DDSC ecosystem, confirming its operational readiness, scalability, and practical feasibility for executing large-scale institutional transactions. The stablecoin backed by the UAE dirham "DDSC" was launched following a strategic collaboration between IHC, First Abu Dhabi Bank, and Sirius International Holding, based on the blockchain infrastructure of ADI Foundation. This initiative aims to support and facilitate secure, highly efficient digital transactions that comply with regulatory frameworks for institutions, companies, and individuals, enabling efficient and seamless transfer and settlement operations across global markets. Executing a transaction of this size is tangible proof of the strength and efficiency of the infrastructure underpinning both DDSC and the ADI network, moving the initiative from development to actual application and operation. It also confirms the ecosystem's ability to support recurring, large-scale financial flows, including cross-border payments, treasury operations, and trade settlements. This achievement coincides with growing demand for more efficient, transparent, and compliant alternatives to traditional payment channels, especially in emerging markets that continue to face tangible challenges related to processing time, cost, and operational complexities. Sayed Basar Shueib, CEO of IHC, said: "This transaction confirms that the UAE's digital infrastructure is now ready, flexible, and capable of supporting actual institutional-level financial activities. As one of the founding entities of the DDSC ecosystem, IHC is committed to advancing solutions that contribute to developing mechanisms for capital movement across markets. Executing an AED 110 million transaction using the DDSC digital currency via the ADI network is a clear indicator that we have entered a new phase where institutionally designed digital assets are not just feasible solutions but operational ecosystems capable of working at scale." With the practical use of DDSC on the ADI network now underway, the focus will shift toward expanding institutional participation, developing additional use cases, and strengthening cross-border payment and trade corridors to connect the Middle East with major global markets. This achievement bolsters the UAE's position at the forefront of digital asset innovation and reflects the growing role of infrastructure aligned with sovereign directives in shaping the future of the global financial system.

First Abu Dhabi Bank and Mastercard launch an integrated suite of small and medium enterprise cards. Dubai - Al Wahda: First Abu Dhabi Bank (FAB), the UAE's global bank and the largest bank in the United Arab Emirates and one of the world's largest and safest financial institutions, today announced the launch of an innovative three-tier suite of SME cards in partnership with Mastercard. This suite aims to empower SMEs with smart and flexible tools for managing operating expenses, working capital, and day-to-day business payments. The launch responds to the growing need of these businesses to access formal payment channels that help improve cash flows and reduce reliance on cash, checks, and manual transfers. Through integration with FAB's digital business banking services, businesses enjoy better visibility and greater control over payment processes, supporting their growth from startups to expansion-stage companies. With advanced spending controls and real-time monitoring, business owners can maintain financial discipline while benefiting from the flexibility needed to scale in a competitive market. The suite includes three cards designed to meet different business needs: ONYX, Mastercard World Elite: A premium business card that provides exceptional benefits for entrepreneurs and executives. More than just a payment tool, the Onyx card unlocks access to extraordinary experiences, including tailored business benefits and luxury travel and lifestyle privileges, supporting high-value business travel and trade relationships. SILVER: A business credit card ideal for SMEs focused on efficiency, helping to manage cash flows, control expenses, and streamline operational processes smoothly. Mastercard World: A direct debit card linked to the FAB business account, granting immediate access to company funds, with benefits including convenience, security, full control, and exclusive business perks. FAB reaffirms its commitment to supporting SMEs through their growth and expansion stages by providing practical financial solutions and insights to help them operate with confidence. The collaboration with Mastercard reflects a focus on delivering realistic and reliable solutions that meet actual business needs. According to Mastercard, 65 million SMEs were connected to the digital economy between 2020 and 2024, exceeding the target of 50 million, reflecting a deep understanding of how businesses operate today and their local and global ambitions. With integration into the bank's new business app, a dedicated corporate banking platform, these cards will become part of integrated banking solutions that provide comprehensive visibility and control in one place. The suite also offers a global rewards program with exclusive local and international merchant offers, enhancing business savings opportunities.