PUSD stablecoin deploys on ADI Chain, targeting $3T Islamic finance market
The Shariah-compliant stablecoin backed by Gulf currencies expands to a new Layer-2 network aimed at institutional settlement in the Middle East....
Key takeaways
- 1PUSD stablecoin with $2.3 billion circulation deploys on ADI Chain, a UAE-licensed Layer 2 network for institutional settlement.
- 2PUSD is Shariah-compliant, backed 1:1 by Saudi riyals and UAE dirhams, targeting the $3 trillion global Islamic finance market.
- 3UAE regulatory framework now approves multiple stablecoins including dirham-pegged tokens from RAKBank and dollar-backed USDU from Universal Digital.
Coins in this story
Why it matters
This expansion signals institutional adoption of crypto in Middle Eastern markets with robust regulatory backing, potentially creating new settlement corridors for Indian financial institutions engaging with Gulf economies and Islamic finance products.
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