UAE Stablecoin Index
A coverage index of CBUAE-licensed dirham stablecoins — every measurable regulated dirham coin, regardless of score. Dirham supply is read onchain and converted to dollars at the CBUAE currency-board peg, and scored on the same four-dimension rubric as the full market. The quality spread is the product.
Measured supply (USD equiv.)
$71.34M
▲ 2.3% / 26d
Quality score
56.00
▲ 9.40 / 26d
Regulated issuers
2
2 of 2 measured · CBUAE-licensed
Chains
3
where the regulated supply lives
The index measures quality, not size: 56.0 out of 100.
The level is not a capital total — dollar amounts and their movement live in the strip above. It is the supply-weighted trust score of every constituent, on the 0–100 rating scale, recomputed daily, alongside the same institutional-grade capital share OCB’s other regulated indexes publish. 0% of measured supply currently sits in constituents scoring ≥ 70.
OCB Index
UAE Stablecoin Index
Which dirham stablecoins comprise the measured supply.
Each licensed member’s supply is measured whether or not it clears the institutional bar, so the mix below is the whole covered universe. The share each name holds is the weight it carries in the index.
2 bank-issued dirham stablecoins, measured onchain.
Every member’s issuing entity and CBUAE licence sit in the table beside its measured supply, index weight, and score. Membership is set by the CBUAE licence; the score reports how each issuer measures against the rubric once inside it. Trace any score below to see the four-dimension evidence behind it.
| Ticker | Issuer | HQ | Licence / issuing entity | Supply (USD) | Weight | Score / 100 | Band |
|---|---|---|---|---|---|---|---|
| AEDZ | Zand AED Bank-issued dirham stablecoin from Zand Trust, live on Ethereum and Solana. | United Arab Emirates | Zand Trust (Zand Bank PJSC) — CBUAE payment-token licence (PTSR) CBUAE-approved under the Payment Token Services Regulation. Issued by a CBUAE-supervised bank subsidiary; reserves held 1:1 in segregated regulated AED accounts. |
The $71.34M spans 3 chains, measured natively on each.
Each member’s supply is read from every chain it mints on — native issuance only, so bridged copies never double-count. Zand AED lives overwhelmingly on Solana, with a smaller Ethereum leg; DDSC is native to ADI Chain, an ADGM-regulated institutional Layer-2. Dollar figures below use the CBUAE peg conversion stated above.
$56.19M
2 chains
$13.83M
1 chain
A CBUAE licence decides membership.
A constituent is included if, and only if, all three hold:
Membership requires a licence under the CBUAE's Payment Token Services Regulation.
Any party that issues, redeems, or facilitates a dirham-referenced payment token in the UAE must be licensed by the Central Bank of the UAE under the Payment Token Services Regulation — a dedicated stablecoin regime, not a general financial registration. Both constituents clear it through bank-grade issuers: Zand Trust is a subsidiary of CBUAE-supervised Zand Bank PJSC, and DDSC is issued by a consortium of IHC, First Abu Dhabi Bank, and Sirius. Inclusion follows the licence field in the catalog, not a hardcoded list, so a newly licensed dirham stablecoin joins automatically.
The coin must live on a public chain OCB can read.
An index built on independent onchain verification only measures what it can verify: supply, holders, and transfers read directly from public blockchains. AE Coin — the first CBUAE-approved dirham stablecoin (final approval December 2024) — operates as a closed-loop ecosystem with no public contract address, so it cannot be measured and sits outside the index as a disclosed coverage gap, never a silent omission. Should a public onchain version be deployed, it would be onboarded.
Four equal-weight dimensions, scored from onchain evidence.
Each member earns up to 25 points on each dimension, independent of issuer self-reporting. The band a member lands in follows directly from the total.
The four dimensions
Composition and chain-verifiability of what backs supply. Cash + T-bills with onchain-readable composition scores highest; synthetic crypto-collateral scores lower.
Genuine ability to exit — issuer direct redemption and DEX onchain depth at 1% slippage. A joint-path bonus applies when both paths exist.
Top-10 holder share post-exclusion of known exchange and protocol addresses. Lower concentration scores higher.
Attestation freshness, disclosure consistency over trailing 180 days, and regulatory standing. Voluntary-attestation cap applies at 19.
Same measure as OCB’s other regulated indexes.
Once the constituents are scored, the OCB UAE Stablecoin Index computes the same measure as the Stablecoin Quality Index and the US- and European-Regulated indexes: the share of capital, in dollars, backed by an instrument scoring 70 or above across reserve quality, redemption depth, holder concentration, and transparency. Inclusion follows the CBUAE licence field, not a hardcoded list, so a newly onboarded dirham stablecoin joins automatically. Dirham supply is converted to dollars via the AED peg for a common denominator — the index measures quality, not currency. Methodology changes are version-bumped and logged publicly.
Cite: OnChain Benchmark (OCB). OCB UAE Stablecoin Index — register tracker. Retrieved from onchainbenchmark.com/index/uae-stablecoin.
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