RAKBank receives the Central Bank of the UAE's preliminary approval to issue Dirham-pegged stablecoins

2026-01-07 10:14:56

Abstract generation in progress

ChainCatcher reported that according to market sources, RAKBank has received in-principle approval from the Central Bank of the UAE (CBUAE) to issue an AED-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 independent segregated 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 enable retail customers to conduct cryptocurrency trading through regulated brokerage partners.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes