UAE Central Bank Grants RAKBANK Initial Approval for AED Stablecoin

• RAKBANK receives initial approval to launch an AED-backed stablecoin from UAE Central Bank.
• The stablecoin will offer 1:1 AED backing with audited smart contracts for transparency.
• This move strengthens UAE’s position as a hub for regulated digital assets and innovation.

RAKBANK, Ras Al Khaimah, has received initial approval from the UAE Central Bank to launch a stablecoin tied to the UAE dirham (AED). Final approval will depend on completing all regulatory and operational requirements. This marks an important step in the bank’s digital asset strategy.

Major Step in RAKBANK’s Digital Assets Journey

RAKBANK’s move highlights its commitment to providing regulated, secure, and transparent financial solutions that support the UAE’s growing digital economy.

Raheel Ahmed, Group CEO of RAKBANK, said the approval reflects the bank’s dedication to responsi…

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