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CryptoUpdated•Originally published 23 April 2026•Updated 24 April 2026•

1 min read

Shariah-Compliant PUSD Stablecoin Deploys on ADI Chain to Target Islamic Finance Market

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Key Facts

1The Shariah-compliant PUSD stablecoin backed by Gulf currencies has deployed on the ADI Chain Layer-2 network.

2The move targets the $3 trillion Islamic finance market by facilitating institutional settlements.

Palm Azgar Finance has officially deployed its Shariah-compliant PUSD stablecoin on the ADI Chain Layer-2 network. The stablecoin's reserves are composed of Saudi riyals and UAE dirhams, both of which are pegged to the US dollar, ensuring regional stability. Notably, PUSD is the second asset to be integrated into a specialized settlement platform backed by major Abu Dhabi entities. This strategic expansion targets the $3 trillion global Islamic finance market by providing institutional-grade digital infrastructure. The deployment is designed to enhance cross-border transaction efficiency and bridge the gap between traditional Islamic finance and blockchain technology. Analysts view this move as a significant step toward accelerating institutional adoption of regulated digital assets in the Gulf.

about 1 month ago

Version History

Version 1about 1 month ago

What changed: Identified Palm Azgar Finance as the issuer, specified the SAR and AED reserve composition, and noted its status as the second asset on the Abu Dhabi-backed settlement platform.