UAE retailers begin accepting DDSC stablecoin payments in new pilot

DDSC and Network International have launched the UAE’s first in-store pilot for payments using a Central Bank-licensed, AED-backed stablecoin, allowing customers to spend DDSC through existing point-of-sale terminals at selected retailers. Summary DDSC and Network International have launched an in store stablecoin payment pilot at selected Marks & Spencer and LuLu locations in the UAE. Customers can scan a QR code using a supported wallet to pay with DDSC through Network International’s existing point of sale infrastructure. Participating merchants can settle transactions either in DDSC or UAE dirhams under their agreed settlement arrangements. Network International plans to expand DDSC acceptance across its UAE merchant network after testing is completed. According to a press release shared with crypto.news on Sept. 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. DDSC is pegged 1:1 to the UAE dirham and operates on ADI Chain. The s...