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UAE Regulator Grants In-principle Nod for Rakbank's Stablecoin Issue

MT Newswires·01/07/2026 03:00:20
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03:00 AM EST, 01/07/2026 (MT Newswires) -- The National Bank of Ras Al-Khaimah (ADX:RAKBANK), d/b/a Rakbank, secured the Central Bank of the UAE's in-principle approval for the launch of its stablecoin payment token. The lender noted that the issuance of the Emirati dirham-backed token is still subject to regulatory and operational conditions, according to a Wednesday release.