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FollowingDSSC and Network International jointly launched United Arab Emirates's first physical store stablecoin payment pilot
DSSC (Dirham Digital Stablecoin) and Network International recently announced the launch of the country's first retail pilot project in United Arab Emirates. The project allows customers to make payments through point-of-sale (POS) using stablecoins backed by United Arab Emirates dirhams (AED) at designated stores.
Flexible settlement methods lower merchant thresholds
As customers complete purchases using digital wallets that support the system and QR code-based checkout processes, merchants can choose to receive DSSC or United Arab Emirates dirhams as transaction settlement funds. This flexibility allows retailers to test regulated stablecoin payment capabilities without completely reshaping their accounting, payment and money management systems.
According to an official statement, retailers participating in the pilot can choose to settle in DDSC or United Arab Emirates dirhams based on their commercial agreement with Network International. Merchants that choose DDSC will receive funds through supported wallets, while companies that prefer traditional currencies can directly arrange for settlement in United Arab Emirates dirhams.
Pilot operations and user experience
Partners have tested the service at Marks & Spencer in Dubai's Festival City and LuLu Hypermarket at Halidia Shopping Center in Abu Dhabi. Customers holding supporting wallets only need to scan the QR code identified in the store to confirm the payment information, and they can obtain transaction confirmation through Network International's existing acceptance system.
Thanks to the familiar QR code-based process, this innovation has not significantly changed the existing retail checkout experience. The DSSC Pay logo clearly identifies the stores participating in the pilot, further enhancing consumer awareness.
Compliance background and multi-party cooperation
The DDSC maintains a 1:1 pegged relationship with the United Arab Emirates dirhams and processes settlements through ADI Chain, operating as a regulated payment instrument. The stablecoin was jointly developed by IHC, First Abu Dhabi Bank and Sirius International Holding to meet the needs of actual digital payments in the United Arab Emirates.
Officials pointed out that DSSC is the first stablecoin fully licensed by the Central Bank of the United Arab Emirates (CBUAE), backed by United Arab Emirates dirhams, and used for regulated domestic transactions.
Industry leaders look to widespread adoption
Murat Cagri Suzer, CEO of Network International, called the project "an important milestone in the development of payments in the United Arab Emirates." He pointed out that DSSC is expected to reduce the "cost and complexity" of capital flows while giving merchants control over transaction settlement.
Saifee Rupawala, CEO of Lulu Retail, linked the pilot to the role of technology in improving customer experience and supporting the United Arab Emirates digital economy. At the same time, Al-Futtaim executive Eric Shehadeh highlighted the operational scale needed to transform the stablecoin experiment into a widely available retail payment service.
Al-Futtaim processes tens of millions of customer payments every year across its more than 200 brands and has deep experience in consumer adoption. Shehadeh said accepting stablecoins pegged to dirhams in its commercial landscape was a pragmatic way to move innovation from the "pilot phase" to "daily application."
Ultimately, this in-store pilot will help Network International evaluate the transaction performance of DSSC, laying the foundation for its expansion of acceptance across the entire United Arab Emirates merchant network.
