{"id":75491,"date":"2026-04-24T09:01:20","date_gmt":"2026-04-24T02:01:20","guid":{"rendered":"https:\/\/hbbgroup.net\/shariah-compliant-stablecoin-pusd-moves-into-mideast-institutional-arena\/"},"modified":"2026-04-24T09:01:20","modified_gmt":"2026-04-24T02:01:20","slug":"shariah-compliant-stablecoin-pusd-moves-into-mideast-institutional-arena","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/shariah-compliant-stablecoin-pusd-moves-into-mideast-institutional-arena\/","title":{"rendered":"Shariah-Compliant Stablecoin PUSD Moves Into MidEast Institutional Arena"},"content":{"rendered":"
\n

A dollar-linked stablecoin built to meet Islamic finance standards is now operating on a new blockchain network anchored in the Middle East, adding a second digital currency to a settlement platform backed by some of Abu Dhabi\u2019s biggest financial names.<\/p>\n

Backed By Gulf Currencies, Not Just The Dollar<\/h2>\n

PUSD<\/a>, issued by Palm Azgar Finance, holds reserves in Saudi riyals and UAE dirhams \u2014 both pegged to the US dollar \u2014 rather than holding US dollars directly.<\/p>\n

That structure<\/a> is central to its Shariah-compliant design, which is aimed at institutions operating under Islamic finance rules that prohibit interest and require asset backing.<\/p>\n

The stablecoin has roughly $2.3 billion in circulation and runs on several major blockchains, including Ethereum, BNB Chain, Solana, and Tron. ADI Chain is its newest addition.<\/p>\n

ADI Chain<\/a> was built as a settlement layer for a dirham-backed token that came out of a partnership between International Holding Company and First Abu Dhabi Bank. The Central Bank of the UAE licensed it.<\/p>\n

<\/p>\n

With PUSD now on board, institutions using the network can settle transactions in either a dollar-linked or dirham-denominated token operating on the same platform.<\/p>\n

The ADI Foundation says the network is designed to support payment corridors across the Gulf, broader Middle East, and parts of Africa.<\/p>\n

A $3 Trillion Market In The Crosshairs<\/h2>\n

Islamic finance assets are estimated at more than $3 trillion worldwide, according to the ADI Foundation. That market has traditionally been served by conventional banks and funds operating under Shariah<\/a> guidelines, but blockchain-based alternatives have struggled to break through at scale.<\/p>\n

Sharia Law At A Glance<\/h3>\n

Shariah law<\/a> forbids interest, limits speculation, and requires financial instruments to be backed by real assets \u2014 rules that disqualify most crypto products outright. For a stablecoin to meet that standard, it must hold verifiable reserves and generate no interest-based returns.<\/p>\n

BTCUSD now trading at $77,581. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Certification from a board of qualified Islamic scholars is typically required, though the report does not confirm whether PUSD has obtained one.<\/p>\n

PUSD\u2019s move onto ADI Chain is a bid to change that, targeting corporate treasuries, exchanges, and payment processors looking for compliant digital settlement tools.<\/p>\n

The UAE has become one of the more active regulatory environments<\/a> for stablecoins. Several frameworks have been put in place by the Central Bank and the Abu Dhabi Global Market, covering both dirham-pegged and dollar-denominated tokens.<\/p>\n

Global Players Already In The UAE Space<\/h3>\n

Approvals have also been extended to established names. Tether<\/a>, Ripple USD<\/a>, and Circle have all been cleared to operate within the ADGM financial zone by its Financial Services Regulatory Authority.<\/p>\n

That puts PUSD in a field that includes some of the largest stablecoin issuers in the world, competing for a share of institutional transaction flow in one of the region\u2019s most active financial hubs.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

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