Hardware wallet provider Ledger has integrated the native ADI token from the ADI Chain, a layer-2 network linked to the United Arab Emirates, just after a landmark 110 million dirham ($30 million) stablecoin transaction was executed on the platform.
"The integration allows users to store and manage $ADI through Ledger Wallet and the company’s hardware signing devices," the ADI Foundation said, positioning the network as "infrastructure for regulated stablecoins and tokenized assets."
The ADI Chain is backed by Abu Dhabi-based Sirius International Holding, a subsidiary of International Holding Company, and supports the DDSC stablecoin ecosystem launched with First Abu Dhabi Bank. The $30 million DDSC transfer, disclosed by International Holding Company, represents one of the largest publicly recorded stablecoin transactions in the UAE.
Ledger's support provides a critical custody and security layer that could accelerate the use of dirham-backed stablecoins in regulated financial channels, positioning the UAE as a key hub for institutional digital assets despite the dominance of US dollar-backed tokens.
The integration of the ADI token into Ledger's ecosystem is a significant step in the maturation of the UAE's digital asset strategy. By providing a secure, institutional-grade custody solution, Ledger is addressing a key requirement for banks and large corporations looking to use blockchain for treasury operations and cross-border payments. The ADI Chain's focus on regulated stablecoins and tokenized real-world assets, combined with the backing of major local institutions, creates a powerful framework for financial innovation in the region.
While the UAE's efforts are notable, the global stablecoin market remains heavily skewed towards the US dollar. According to a March report from Dune Analytics, euro-denominated tokens, which make up over 80% of the non-dollar stablecoin market, represent a market of only $1.2 billion, compared to the total stablecoin market of over $300 billion.
In Europe, the Markets in Crypto-Assets Regulation (MiCA) provides a clear legal framework, but its strict rules have been cited as a potential drag on the competitiveness of euro-stablecoins. Nevertheless, initiatives like the Qivalis consortium, which has grown to include 37 institutions, show a continued drive to develop robust, regulated alternatives to dollar-backed stablecoins. The UAE's approach, combining local banking partnerships with established crypto infrastructure like Ledger, offers another model for how non-dollar stablecoins could gain traction.
This article is for informational purposes only and does not constitute investment advice.
