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RAKBank receives preliminary approval from Central Bank of the UAE to issue Dirham-pegged stablecoin
Summary: According to reports, RAKBank has received preliminary approval from the Central Bank of the UAE (CBUAE) to issue a Dirham-pegged payment token and is preparing to join the UAE stablecoin ecosystem. The upcoming stablecoin will be fully backed 1:1 by Dirhams held in an independent regulated account, managed by audited smart contracts, and will have ...
According to reports, RAKBank has received preliminary approval from the Central Bank of the UAE (CBUAE) to issue a Dirham-pegged payment token and is preparing to join the UAE stablecoin ecosystem. The upcoming stablecoin will be fully backed 1:1 by Dirhams held in an independent regulated account, managed by audited smart contracts, and will have real-time reserve proof. The launch of this stablecoin marks a new phase in RAKBank's digital asset strategy, following its move in 2025 to allow retail customers to trade cryptocurrencies through regulated brokerage partners.
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Link: RAKBank receives preliminary approval from Central Bank of the UAE to issue Dirham-pegged stablecoin [Copy]
