Original sourceNBTC News
Summary
The UAE launched an in-store payment pilot for the dirham-backed stablecoin DDSC, using Network International's existing POS infrastructure. The pilot is live at Marks & Spencer in Dubai Festival City and LuLu Hypermarket in Abu Dhabi's Khalidiyah Mall, where consumers with supported wallets can pa…
Key points
- Demonstrates how a regulated local-currency stablecoin can enter physical retail payments through existing POS networks.
- This is a concrete case of a sovereign currency-pegged stablecoin landing in retail scenarios, offering a model for central banks and payment firms in other markets.
- Retail merchants can accept stablecoins without changing POS hardware, while payment and acquiring firms must assess local regulatory licenses and settlement processes.
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