ChainCatcher news: According to market sources, RAKBank has received in-principle approval from the Central Bank of the United Arab Emirates (CBUAE) to issue a UAE dirham-pegged payment token and is preparing to join the UAE stablecoin ecosystem.
The bank stated in a Wednesday press release that the upcoming stablecoin will be fully backed 1:1 by dirhams held in segregated regulated accounts and will be managed by audited smart contracts with real-time proof of reserves. The launch of this stablecoin marks a new phase in RAKBank’s digital asset strategy, following the bank’s 2025 actions to allow retail customers to trade cryptocurrencies through regulated brokerage partners.
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RAKBank получил принципиальное одобрение Центрального банка ОАЭ на выпуск стабильной монеты, привязанной к дирхаму
ChainCatcher news: According to market sources, RAKBank has received in-principle approval from the Central Bank of the United Arab Emirates (CBUAE) to issue a UAE dirham-pegged payment token and is preparing to join the UAE stablecoin ecosystem.
The bank stated in a Wednesday press release that the upcoming stablecoin will be fully backed 1:1 by dirhams held in segregated regulated accounts and will be managed by audited smart contracts with real-time proof of reserves. The launch of this stablecoin marks a new phase in RAKBank’s digital asset strategy, following the bank’s 2025 actions to allow retail customers to trade cryptocurrencies through regulated brokerage partners.