AEThe UAE has approved a dirham-backed stablecoin called DDSC, developed by Abu Dhabi’s International Holding Company, First Abu Dhabi Bank, and Sirius International Holding. This stablecoin is designed to facilitate everyday transactions and is available on platforms regulated by the Virtual Assets Regulatory Authority (Vara). The UAE Central Bank granted a no objection certificate for the project, aiming to boost digital asset adoption. DDSC operates on the ADI Chain blockchain and is pegged 1:1 to the UAE dirham. Since its launch, it has processed over Dh150 million in transactions, demonstrating scalability and operational readiness. The initiative was launched in April 2023 and received regulatory approval in February 2024. The move aims to promote wider use of stablecoins beyond institutional settings and improve financial accessibility.
Bias read (Center): The article presents information about the UAE's regulatory approval and development of a stablecoin without overtly favoring either pro-crypto or anti-crypto positions. It provides balanced reporting on the implications of the stablecoin, mentioning both its advantages and the broader context of CB
Why these scores (Factual 85 · Objective 75): Factuality is high as the article accurately reports the approval of DDSC by the UAE Central Bank and details its features and goals. However, it lacks specific data points like exact dates or quotes from officials. Objectivity is moderate as it presents information in a positive light, emphasizing
