Network International Tests Dirham-Backed Stablecoin Payments in UAE

Network International has begun an in-store pilot in the UAE that allows shoppers to pay with DDSC, a stablecoin backed one to one by the dirham. The pilot is being run with DDSC as partner and uses the acquirer's existing point-of-sale estate rather than new hardware.

Two locations are live. A Marks & Spencer outlet in Dubai Festival City is accepting the token, along with the Abu Dhabi branch of LuLu Hypermarket. Customers need a supported wallet to take part. The transaction travels over rails Network International already operates, so the checkout counter itself is unchanged.

The checkout step

Paying with DDSC follows a QR flow that shoppers in the UAE will recognise. The terminal displays a code, the customer scans it with a wallet that holds the token, and the merchant receives confirmation through Network International's existing infrastructure.

Settlement is a separate decision from acceptance. Retailers can be settled in DDSC or in dirhams, depending on the arrangement they agree with Network International.

What DDSC is

DDSC is pegged at parity with the dirham and settles on ADI Chain, a layer-2 blockchain built by the ADI Foundation in Abu Dhabi. The token was developed by International Holding Company, First Abu Dhabi Bank and Sirius International Holding.

The UAE central bank approved its launch in February 2026, licensing it under the Payment Token Services Regulation. That puts the token inside the country's supervisory framework for payment tokens rather than outside it. Because the peg runs one to one against the dirham, the amount a merchant settles in DDSC matches the amount that would otherwise have settled in the local currency.

"We are proud to be one of the building blocks of this important milestone in the evolution of payments in the UAE. Network International merchants will be able to accept payments in DDSC and have the flexibility to settle in stablecoin," said Murat Cagri Suzer, Group CEO of Network International.

"By enabling DDSC, a dirham-backed stablecoin, to work through established payment infrastructure, we are turning the promise of digital currencies into a practical reality for businesses and consumers," said Ajay Hans Raj Bhatia, CEO of Sirius International Holding.

Rollout plans

Testing continues at the two sites. Once it concludes, Network International plans to widen acceptance across its UAE network, which would put the token in front of a much larger group of merchants than the pilot covers.

The appeal for a retailer is narrow but specific. A regulated stablecoin can be accepted at the counter without swapping out terminals or retraining staff on unfamiliar equipment. Whether that argument carries beyond a trial depends on how merchants weigh settlement in a token against settlement in the currency they already use.