A new Shariah-compliant stablecoin called PUSD is expanding its reach by launching on ADI Chain, a Layer 2 blockchain built for institutional use in the Middle East.
Summary
PUSD is joining ADI Chain, giving institutions another stablecoin option for settlement across the Gulf and parts of Africa.
The token is Shariah-compliant and backed by Saudi riyals and UAE dirhams, both pegged to the US dollar.
ADI Chain now supports both dollar-linked and dirham-based stablecoins as UAE crypto rules continue to grow.
PUSD already operates on several major blockchains, including Ethereum, BNB Chain, Solana, and Tron. With this new integration, it is expanding further into regional infrastructure focused on large-scale financial use.
The stablecoin has about $2.3 billion in circulation and is fully backed 1:1 by reserves held in Saudi Arabia and the UAE. The goal is to make it easier for institutions to use stable digital money for payments and settlement in the region.
Focus on Islamic Finance and Institutions
A big part of this move is access to Islamic finance markets.
According to the ADI Foundation, the global Islamic finance industry is worth more than $3 trillion. PUSD is designed to follow Shariah rules, which could make it more attractive to banks, companies, and payment providers that need compliant digital tools.
The token is issued by Palm Azgar Finance and is mainly aimed at institutions like corporate treasuries, exchanges, and payment processors.
By launching on ADI Chain, these users get access to a network built for cross-border settlement across the Gulf, Middle East, and parts of Africa.
ADI Chain is already used for a dirham-backed stablecoin backed by major UAE institutions, including International Holding Company and First Abu Dhabi Bank, and licensed by the Central Bank of the UAE.
Now with PUSD added, the network supports both a dollar-linked stablecoin and a dirham-based one, giving institutions more flexibility.
Growing Stablecoin Push in the UAE
The launch also fits into a bigger trend in the UAE, where regulators are actively shaping rules for digital assets and stablecoins.
The Central Bank of the UAE and Abu Dhabi Global Market have introduced frameworks for virtual asset firms and payment tokens. At the same time, local institutions are testing stablecoin systems for real-world payments.
Recent developments include pilots for dirham-backed tokens and approvals for dollar-based stablecoins under UAE regulation.
Against this backdrop, PUSD’s move to ADI Chain shows how fast stablecoin infrastructure is expanding in the region, especially for institutional and cross-border financial use.
