Shariah-Compliant PUSD Stablecoin Integrates With ADI Chain

PUSD, a stablecoin adhering to Shariah principles and backed by Gulf currencies like Saudi riyals and UAE dirhams, is integrating with ADI Chain. This Layer 2 network is designed for institutional settlement in the Middle East. With approximately $2.3 billion in circulation and already present on Ethereum, BNB Chain, Solana, and Tron, PUSD's move to ADI Chain aims to provide access to the global Islamic finance market, valued at over $3 trillion. ADI Chain itself serves as a settlement layer for a dirham-backed stablecoin initiated by International Holding Company and First Abu Dhabi Bank, licensed by the UAE Central Bank. This integration introduces a second stablecoin to the network, enabling institutions to settle transactions using either a dollar-linked asset or a dirham-denominated token on the same infrastructure. The UAE is actively developing a regulatory framework for digital assets, including stablecoins, to modernize payments and enhance cross-border settlements, with several dirham-pegged and dollar-denominated stablecoins receiving regulatory attention and approvals.

(Source：Cointelegraph)