PUSD now operates on ADI Chain with reserves in Saudi riyals and UAE dirhams, adding a dollar-linked settlement token to a UAE-backed network serving Gulf, Middle East, and African payment corridors.
PUSD has launched on ADI Chain, expanding the settlement network with a dollar-linked stablecoin structured to meet Islamic finance standards. Issued by Palm Azgar Finance, PUSD is backed by reserves in Saudi riyals and UAE dirhams, rather than U.S. dollars directly, as part of its Shariah-compliant design. The stablecoin has roughly $2.3 billion in circulation and already runs on Ethereum, BNB Chain, Solana, and Tron, with ADI Chain as its newest integration. ADI Chain was built as a settlement layer for a dirham-backed token created through a partnership between International Holding Company and First Abu Dhabi Bank, and that token was licensed by the Central Bank of the UAE. With PUSD added, institutions on the network can settle in either a dollar-linked or dirham-denominated token. The ADI Foundation says the network is intended to support payment corridors across the Gulf, the broader Middle East, and parts of Africa. The report adds that the source does not confirm whether PUSD has obtained certification from a board of Islamic scholars.