RAKBANK announced that it has received in-principle approval from the Central Bank of the UAE CBUAE to issue an AED-backed payment token i.e., stablecoin, subject to the completion of regulatory and operational requirements.
This marks an important step in RAKBANK's digital assets journey and reflects the Bank's commitment to developing regulated, secure and transparent financial solutions aligned with the UAE's evolving digital economy framework.
This development builds on RAKBANK's growing capabilities in digital asset services. In 2025, the Bank enabled its retail customers to trade crypto through a regulated brokerage partner, providing a compliant and secure pathway for customers to access digital assets.
