SBI Holdings, Inc. announced on September 16, 2026, that Fasset, a strategic investee headquartered in the United Arab Emirates, has obtained approval from the Central Bank of the UAE to distribute the dirham-pegged stablecoin DDSC. The approval formally recognizes Fasset as an approved distribution partner and validates its regulatory compliance framework. This development marks a notable step in expanding regulated digital financial services across the UAE and international markets.
Regulatory Approval and the DDSC Stablecoin
DDSC is a stablecoin backed by the UAE dirham and approved by the Central Bank of the UAE. It was jointly developed by International Holding Company, First Abu Dhabi Bank, and Sirius International Holding, and is issued by AEDC Stablecoin Network & Distribution LLC. The asset supports digital payments, fund transfers, and settlement within a regulated dirham-denominated financial infrastructure.
Fasset's Global Reach and Service Access
With this approval, Fasset becomes one of the first services in the world to handle DDSC. The company reports that its financial services encompass more than three million user accounts across 125 countries and regions. Eligible users will be able to hold, transfer, and exchange dirham-denominated digital currency on Fasset's fully compliant platform.
Infrastructure Plans and the ADI Foundation Partnership
Fasset's role with DDSC builds on its existing partnership with the Abu Dhabi-based ADI Foundation. The foundation, established by Sirius International Holding, developed ADI Chain, the institutional blockchain on which DDSC is issued and circulated. Future infrastructure work will include payment card issuance, merchant payment acceptance, fiat-to-digital conversion, and swaps with leading U.S. dollar-pegged stablecoins such as USDC and USDT.
Deepening Cooperation with SBI Holdings
The SBI Group has been strengthening its partnership with Fasset following a strategic investment in May 2026. Additional collaboration included a June 2026 partnership between SBI Remit Co., Ltd. and Fasset for international remittances, and the Group decided in August 2026 to make an additional investment. SBI Holdings will continue working with Fasset to pursue financial services that connect Japan, the UAE, and other overseas markets, subject to applicable laws and regulatory requirements.
Executive Views on a Multi-Currency Stablecoin Ecosystem
SBI Holdings Chairman and CEO Yoshitaka Kitao said the Group has built regulated digital money through dollar-denominated stablecoin work with Ripple and Circle and through JPYSC, Japan's first trust-type yen-denominated stablecoin. He added that DDSC supports interoperable stablecoins backed by different sovereign currencies within clear regulatory frameworks. Kitao described stablecoins as central to the SBI APAC Digital Economic Zone and affirmed plans to build onchain financial infrastructure with Fasset.
Leadership Perspectives on Regulatory Progress
Mohammed Ahmed, CEO of AEDC Stablecoin Network & Distribution LLC, said Fasset's approval is an important step in expanding practical use of DDSC. He noted that Fasset brings a strong regulatory presence, international reach, and a proven track record in distributing digital assets across key emerging markets. Mohammad Raafi Hossain, CEO of Fasset, said the milestone reflects trust from regulators and leading financial institutions and supports future financial connectivity between the UAE, Japan, and jointly served markets.
This approval highlights the growing role of regulated, non-dollar stablecoins in global digital finance. It positions Fasset as an early distributor of a central bank-approved dirham-pegged asset while reinforcing SBI Holdings' broader strategy across multiple sovereign digital currencies. The collaboration is expected to support practical payment and settlement infrastructure linking the UAE, Japan, and other international markets in a compliant manner.