PUSD, a Shariah-compliant stablecoin backed by Gulf currencies, is set to launch on ADI Chain, a Layer 2 network built for institutional settlement in the Middle East.
Summary
- PUSD joined ADI Chain, giving institutions another stablecoin option for settlement across Gulf and Africa.
- The Shariah-compliant token holds $2.3 billion circulation and stays backed by Saudi and UAE reserves.
- ADI Chain now supports dollar-linked and dirham-based stablecoins as UAE digital asset rules keep expanding.
The move adds another blockchain integration for the token, which is already active on Ethereum, BNB Chain, Solana and Tron.
The stablecoin has about $2.3 billion in circulation and is backed 1:1 by reserves held in Saudi riyals and UAE dirhams. Both currencies are pegged to the US dollar. With the ADI Chain rollout, PUSD is positioning itself for wider use in payment flows and digital asset settlement across the region.
Focus turns to Islamic finance access
The deployment also links PUSD to the Islamic finance market, which holds more than $3 trillion in assets globally, according to the ADI Foundation. The token is designed to meet Shariah compliance standards, which may support its use among institutions seeking digital payment tools aligned with Islamic finance rules.
PUSD is issued by Palm Azgar Finance and is aimed at institutional users such as corporate treasuries, exchanges and payment processors. The ADI Chain integration gives those users access to a network that supports settlement across the Gulf, the wider Middle East and parts of Africa.
Additionallly, ADI Chain already serves as the settlement layer for a dirham-backed stablecoin started by International Holding Company and First Abu Dhabi Bank and licensed by the Central Bank of the UAE. The addition of PUSD introduces a second stablecoin to the network and gives institutions a choice between a dollar-linked asset and a dirham-based token on the same system.
Network transactions require the chain’s native token for fees. ADI Chain said the setup is meant to support institutional settlement and cross-border transfers in markets where stablecoin use is growing. The latest integration also shows how regional blockchain networks are expanding their stablecoin offerings to meet demand from large users.
UAE stablecoin rules continue to develop
The launch comes as the United Arab Emirates continues to build rules for digital assets and stablecoins. The Central Bank of the UAE and Abu Dhabi Global Market have both introduced frameworks for payment tokens and virtual asset firms, while local institutions test new digital currency products for payments and settlements.
Recent activity includes pilots for dirham-backed stablecoins and approvals for dollar-denominated tokens under UAE rules. Regulators have also cleared several crypto firms to operate in Abu Dhabi Global Market. Against that backdrop, PUSD’s move to ADI Chain adds another stablecoin project to the UAE’s growing digital asset market.
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