Network International — the MENA region's largest payments processor — announced on 10 September 2026 the UAE's first in-store pilot for accepting retail payments in the DDSC (Dubai Digital Silver Coin) stablecoin, pegged 1:1 to the dirham and licensed by the Central Bank of the UAE. Shoppers at two retail locations — Marks & Spencer in Dubai Festival City and LuLu Hypermarket at Khalidiyah Mall (Abu Dhabi) — can now pay with DDSC on standard POS terminals via QR. Here is what changes for merchants, fintechs and customers in the UAE.
What happened
In a joint press release dated 10 September 2026 (distributed via Zawya), Network International and DDSC's issuers announced the UAE's first in-store pilot for accepting AED-stablecoin payments in retail. A shopper holding DDSC in a supported crypto wallet can now pay at the till at Marks & Spencer in Dubai Festival City (Al-Futtaim) and at LuLu Hypermarket at Khalidiyah Mall in Abu Dhabi — by scanning a QR code on Network International's existing POS terminal. The merchant gets confirmation through the same acceptance rails as for a card payment, and receives settlement — at their choice — in DDSC or in UAE dirhams.
Commenting on the launch, Network International Group CEO Murat Cagri Suzer said the partnership is meant to "reduce the cost and complexity of money movement for our merchants". Ajay Hans Raj Bhatia, CEO of DDSC issuer Sirius International Holding: "this is about more than payments, it is about building the next generation of trusted, regulated and accessible financial infrastructure".
What DDSC is and who issues it
DDSC (Dubai Digital Silver Coin) is a payment token pegged 1:1 to the UAE dirham and issued under a licence from the Central Bank of the UAE (CBUAE) within its Payment Token Services Regulation — the CBUAE's regulatory regime for tokens used as a means of payment inside the country.
DDSC's issuers are three Abu Dhabi-rooted entities: Sirius International Holding, International Holding Company (IHC) — the largest listed group in Abu Dhabi by market cap — and First Abu Dhabi Bank (FAB), the UAE's largest bank by assets. Technically, the token runs on ADI Chain, a blockchain developed by Abu Dhabi's ADI Foundation.
The key difference from unauthorised stablecoins is DDSC's regulatory status inside the UAE. DDSC can be legally accepted for goods and services across the country, whereas the CBUAE explicitly prohibits merchants from accepting unlicensed payment tokens: you can hold them and trade them on regulated venues, but you cannot accept them for goods over the counter.
How it looks at the till
For the merchant, the integration requires no hardware change. The cashier generates a QR code on Network International's existing POS terminal — the same physical device that already accepts Visa, Mastercard, the UAE's national scheme Jaywan, and digital wallets. The shopper opens a supported crypto wallet, scans the QR, confirms the payment — and gets confirmation via the same Network International rails.
After the transaction, the merchant receives settlement — at their choice — either in DDSC itself (if they want to hold the token on the balance sheet) or in UAE dirhams (via ordinary bank settlement). Commercial terms are agreed between the merchant and Network International.
What the launch means for UAE merchants and businesses
First — potentially lower cost of accepting a payment. Blockchain settlement is typically cheaper than legacy card schemes: there is no long chain of issuer → scheme → acquirer → merchant, each taking a cut. This is precisely what Murat Cagri Suzer meant by "cost and complexity of money movement". For low-margin segments — grocery retail, food service, transport — even a few dozen basis points of interchange saved is a meaningful operational win.
Second — faster settlement and a choice of settlement currency. A merchant that already works with digital assets (a crypto exchange, an OTC desk, gaming, part of ecom with a crypto-merchant programme) can receive settlement directly in DDSC, without routing funds through fiat bank rails. A traditional merchant receives dirhams — but with shorter settlement times than under classic card schemes. That flexibility is especially useful for businesses running corporate flows through a UAE corporate bank account and actively managing the currency mix of inflows.
Third — a regulated channel for accepting crypto payments. Customers whose funds sit in a wallet rather than on a card get a legal way to pay in a normal shop — and the merchant stays inside UAE law, without the risk of breaching CBUAE rules on unlicensed payment tokens.
What the launch means for fintech and crypto firms
The DDSC pilot is the UAE's first live case where a CBUAE-licensed AED stablecoin works in retail — not just in interbank and B2B settlement. That changes several things at the landscape level:
- Payment Token Services Regulation works in practice. Until now, the CBUAE regime for payment tokens existed as regulations and approvals; there is now a public, working pilot on real POS infrastructure. For firms planning to issue their own stablecoins or build payment services on top, this confirms that the regulator will let such products go live in real transactions, not just in principle.
- Retail payments are a new licensing field, separate from virtual assets. The UAE hosts two coexisting regimes: the CBUAE's Payment Token Services Regulation (payment tokens as a means of payment) and Dubai's virtual-assets regime under a VARA licence (VA services, trading, custody). One does not substitute for the other: to accept a payment token for goods, you need CBUAE registration of the token plus an acquirer of Network International's calibre — not only a VARA licence for the operating company.
- The infrastructure barrier has been removed. Before DDSC, the main obstacle to retail crypto payments was the need to replace merchant POS hardware or plug in a separate provider. Network International's pilot shows that the same POS can accept both a card and a stablecoin — sharply lowering the cost of scaling.
Important context on the pilot
This is still a pilot, not a mass rollout: two locations, a limited set of supported wallets, and commercial terms agreed on a case-by-case basis. Network International says in the press release that, once testing is complete, DDSC acceptance will be scaled across the wider UAE merchant network — but no public dates are attached.
Even so, the fact that the launch happens at two flagship locations (Al-Futtaim's Marks & Spencer in Dubai and LuLu in Abu Dhabi) is enough to read the vector: the UAE is building infrastructure where a regulated AED stablecoin becomes another standard payment method — alongside the card and Apple Pay, not against them.
Key facts
- What launched: the UAE's first in-store pilot for accepting retail AED-stablecoin payments on POS.
- Participants: Network International (acquirer) + DDSC (issuers — Sirius International Holding, IHC, First Abu Dhabi Bank).
- DDSC regulatory status: licensed by the Central Bank of the UAE (CBUAE) under its Payment Token Services Regulation; pegged 1:1 to the dirham.
- Technology: ADI Chain blockchain (developed by Abu Dhabi's ADI Foundation).
- Pilot locations: Marks & Spencer in Dubai Festival City (Al-Futtaim) and LuLu Hypermarket at Khalidiyah Mall (Abu Dhabi).
- Payment mechanic: QR code on Network International's existing POS terminal; no hardware change required.
- Settlement: merchant's choice — DDSC or UAE dirhams.
This article is for information only and does not constitute investment, tax or legal advice. Primary source — joint press release by Network International and DDSC dated 10 September 2026 (Zawya); additional confirmation — Fintech News UAE (10 September 2026). For the choice of licensing track (CBUAE Payment Token Services Regulation, VARA, ADGM/DIFC) and the corporate structure for a payments or crypto business in the UAE, please consult qualified advisers.
