UAE, 09 September, 2026: Network International (Network), a leading fintech company across the Middle East and Africa, has begun the UAE’s first in-store pilot of AED-backed stablecoin payments. Through its partnership with DDSC, the first fully CBUAE licensed AED-backed stablecoin, customers with DDSC supported wallets will be able to pay using AED-backed stablecoin at selected merchants locations through Network’s existing point-of-sale (POS) devices. The pilot marks an important step in bringing regulated stablecoin payments into everyday retail, reinforcing Network’s role as a pioneer in introducing market-driven digital payment solutions. The DDSC payment pilot took place at Marks & Spencer branch at Al Futtaim’s Dubai Festival City and Lulu Hypermarket at Khalidiyah Mall Abu Dhabi.
The new payment option gives merchants a broader range of payment methods and positions them to meet evolving customer expectations. It enables them to accept AED-backed stablecoins through the same secure and trusted infrastructure already in place, without disruption to the checkout experience. Following the completion of testing, Network plans to scale DDSC stablecoin acceptance across its UAE merchant network, supporting the country’s ambition to build resilient and future-ready payment infrastructure.
Paying with DDSC stablecoin mirrors the QR-based payment methods already familiar to the market. At checkout, the POS device displays a QR code for the customer to scan using a DDSC supported wallet. Once the payment is confirmed, the merchant receives a notification through Network’s existing acceptance infrastructure, with settlement available either in DDSC, paid directly into the merchant’s DDSC supported wallet, or in UAE dirhams.
DDSC is developed through the collaboration between International Holding Company (IHC), First Abu Dhabi Bank (FAB) and Sirius International Holding, it is pegged 1:1 to the UAE dirham and settles on ADI Chain.
Murat Cagri Suzer, Group CEO of Network International, said:
“We are proud to be one of the building blocks of this important milestone in the evolution of payments in the UAE. Through our partnership with DDSC, Network International merchants will be able to accept payments in DDSC and have the flexibility to settle in stablecoin.Network International serves clients across 56 countries, and we continue to build technologies that make payments increasingly seamless and borderless. Through DDSC, we look forward to reducing the cost and complexity of money movement for our merchants, while providing them with more ways to accept and settle payments.This is another important step towards building the next generation of payment infrastructure in the UAE and the broader MEA region.”
Ajay Hans Raj Bhatia, CEO, Sirius International Holding commented:
“Our collaboration with Network International is a defining step in bringing digital assets into everyday life. By enabling DDSC, a dirham-backed stablecoin, to work seamlessly through established payment infrastructure, we are turning the promise of digital currencies into a practical reality for businesses and consumers. 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.”
Saifee Rupawala, CEO, LuLu Retail, remarked:
“At LuLu, we believe the future of retail will be shaped by how seamlessly technology enhances the customer experience. We are proud to be among the first retailers in the UAE to enable this pioneering payment solution, reinforcing our commitment to innovation and supporting the UAE’s vision for a world-class digital economy.”
Eric Shehadeh, Group Director, Financial Services, Al-Futtaim, added:
"Handling tens of millions of customer payments a year across Al-Futtaim’s 200+ brands, we know what real adoption requires. Bringing Dirham-backed stablecoin acceptance to that footprint is how innovation moves from pilot to everyday, advancing the UAE's digital economy."
About Network International
Network International is the Middle East and Africa’s leading fintech company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We serve a diverse ecosystem of banks, fintechs, telcos, merchants, governments, and public sector entities spanning 50+ countries – empowering our partners with innovative technology, value-added services, and deep expertise in payment systems and infrastructure. Our 3,000+ team strength on the ground works closely with 250+ financial institutions and 240,000+ merchants to deliver reliable, scalable, and future-ready payment and fintech solutions across the region.
About DDSC
DDSC is a 1:1 AED-backed payment token licensed by the Central Bank of the UAE under the Payment Token Services Regulation. Established by IHC, Sirius International Holding, and First Abu Dhabi Bank (FAB), it operates on ADI Chain, an institutional Layer-2 blockchain developed by the Abu Dhabi-based ADI Foundation. DDSC is designed to support payment, settlement, treasury workflows, and broader digital financial infrastructure use cases, and is backed by a segregated Reserve of Assets held in accordance with the applicable regulatory framework.
