Network International has launched the UAE's first in-store pilot for payments using a Central Bank-licensed, AED-backed stablecoin. According to a press release shared with crypto.news on September 9, the pilot has gone live at the Marks & Spencer branch at Al-Futtaim's Dubai Festival City and LuLu Hypermarket at Khalidiyah Mall in Abu Dhabi. Customers with supported wallets can pay using DDSC, while participating merchants can receive settlement either in the stablecoin or UAE dirhams under their agreed settlement arrangements. As reported by Network International, this marks the first live DDSC stablecoin transactions at the point of sale in the UAE, giving merchants a broader range of payment methods and positioning them to meet evolving customer expectations. The new payment option enables merchants to accept AED-backed stablecoins through the same secure and trusted infrastructure already in place, without disruption to the checkout experience.
The pilot uses Network International's existing payment infrastructure instead of requiring merchants to install a separate checkout system. When a customer chooses DDSC at checkout, the point-of-sale device displays a QR code that can be scanned through a supported wallet. Network's acceptance infrastructure sends a confirmation to the merchant once the transaction has been completed. Settlement depends on the arrangement agreed with the merchant, with businesses able to receive DDSC directly into a supported wallet or have the transaction settled in UAE dirhams. Paying with DDSC stablecoin mirrors the QR-based payment methods already familiar to the market, ensuring a seamless checkout experience without disruption to the existing payment infrastructure. Network International serves clients across 56 countries and continues to build technologies that make payments increasingly seamless and borderless, looking forward to reducing the cost and complexity of money movement for merchants while providing them with more ways to accept and settle payments.
DDSC is pegged 1:1 to the UAE dirham and operates on ADI Chain. The stablecoin was developed through a collaboration between International Holding Company (IHC), First Abu Dhabi Bank (FAB) and Sirius International Holding. As reported by crypto.news, DDSC launched on ADI Chain in February after receiving approval and licensing from the Central Bank of the UAE. The stablecoin is licensed under the central bank's Payment Token Services Regulation and is backed by a segregated reserve of assets maintained under the applicable regulatory framework. DDSC is designed to support payment, settlement, treasury workflows, and broader digital financial infrastructure use cases, positioning it as a comprehensive solution for the UAE's digital economy. Network International notes that this collaboration is a defining step in bringing digital assets into everyday life, turning the promise of digital currencies into a practical reality for businesses and consumers.
Network International plans to expand DDSC acceptance across its UAE merchant network after testing is completed. The payment company works with more than 240,000 merchants and over 250 financial institutions across more than 50 countries. According to the announcement, Network International expects the integration to give merchants more options for accepting and settling payments. LuLu Retail CEO Saifee Rupawala said the retailer was among the first in the UAE to enable the payment option, while Al-Futtaim Group Director of Financial Services Eric Shehadeh noted the company handles tens of millions of customer payments each year across more than 200 brands. Following the completion of testing, Network International plans to scale DDSC stablecoin acceptance across its UAE merchant network, supporting the country's ambition to build resilient and future-ready payment infrastructure. LuLu believes the future of retail will be shaped by how seamlessly technology enhances the customer experience, reinforcing their commitment to innovation and supporting the UAE's vision for a world-class digital economy.
DDSC is entering retail testing as other regulated stablecoins and crypto payment systems gain access to payment channels in the UAE. In May, AE Coin and USDU introduced a regulated stablecoin conversion rail connecting the dirham-backed AE Coin with USDU, a U.S. dollar-backed payment token. USDU is regulated by the Financial Services Regulatory Authority in Abu Dhabi Global Market and registered with the UAE central bank as a foreign payment token. Crypto.com's local entity received a Stored Value Facilities license from the Central Bank in May, allowing it to provide regulated payment services in the country. This development represents another important step towards building the next generation of payment infrastructure in the UAE and the broader MEA region, with Network International noting that this is about more than payments, it is about building the next generation of trusted, regulated and accessible financial infrastructure for the UAE and beyond.
