UAE-Backed ADI Chain Secures Ledger Partnership: What This Means for the Future of Stablecoins
Ever wonder what happens when cutting-edge crypto meets the shimmering sands of the UAE? Well, Ledger just stirred the pot by adding native support for the $ADI token, the lifeblood of ADI Foundation’s ADI Chain — a slick, layer-2 network laser-focused on stablecoins and tokenized real-world assets. This isn’t just some flashy new crypto toy; backed by the heavyweights at Abu Dhabi-based Sirius International Holding and linked to the DDSC stablecoin ecosystem launched alongside First Abu Dhabi Bank, ADI Chain is crafted for serious players—think institutional cross-border payments and trade settlements. Now, with $ADI tucked safely in a Ledger Wallet, managing your stablecoins feels as secure as a vault under the desert stars. It’s a bold leap tying regional economic ambitions to crypto innovation — so, could this be the future where traditional finance and tokenized assets finally shake hands? Dive into the story of how $ADI is not only powering transactions but also turning heads with billion-dirham moves in the Emirates. LEARN MORE.
Ledger added native support for the $ADI token tied to ADI Foundation’s ADI Chain network, a UAE-linked, layer-2 focused on stablecoins and tokenized real-world assets.
ADI Chain is backed by Abu Dhabi-based Sirius International Holding, a subsidiary of International Holding Company, and backs the DDSC stablecoin ecosystem launched with First Abu Dhabi Bank. According to the company, the network is designed for institutional use cases including cross-border payments, treasury operations and trade settlement.
The integration allows users to store and manage $ADI through Ledger Wallet and the company’s hardware signing devices. ADI Foundation describes ADI Chain as infrastructure for regulated stablecoins and tokenized assets, with $ADI used as the network’s native gas token.
The announcement follows a recent 110 million dirham ($30 million) DDSC transfer disclosed by International Holding Company, which the company described as one of the largest publicly disclosed stablecoin transactions executed in the United Arab Emirates.
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Euro-backed stablecoins expand despite limited market share
While dollar-backed stablecoins dominate the market, euro-denominated tokens account for more than 80% of the non-US dollar stablecoin sector, according to a March report from Dune Analytics commissioned by Visa. The report estimated the broader non-dollar stablecoin market at roughly $1.2 billion in supply, compared with a total stablecoin market exceeding $300 billion.
Dune said non-dollar stablecoins now process around $10 billion in monthly transfer volume, with euro-backed tokens increasingly used for payments, remittances, payroll and treasury operations. The report also pointed to growing adoption following the bloc’s Markets in Crypto-Assets Regulation (MiCA), which introduced a formal framework for crypto asset service providers across the European Union.
However, an April report from advocacy group Blockchain for Europe claimed that MiCA’s strict reserve and interest rules have made euro stablecoins safer but less commercially competitive than US dollar-backed alternatives. The report cited DeFiLlama data showing euro stablecoins account for less than 1% of global stablecoin volume despite the euro’s broader role in international markets.
This month, the European Commission opened a review of MiCA rules governing stablecoins, reserve requirements and interest-bearing token products as officials reassess how the framework is functioning in practice.
Meanwhile, European institutions are accelerating efforts to develop local-currency stablecoin infrastructure. On May 20, euro stablecoin consortium Qivalis said it expanded to 37 member institutions after adding 25 banks across 15 countries ahead of a planned launch later this year. The group said the initiative is aimed at building a regulated euro-denominated alternative to US dollar-backed stablecoins.
Stablecoin market cap. Source: DefiLlama
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