UAE’s Dirham Stablecoin Race Widens As Rakbank Nets In‑Principle Approval

RAKBANK received in-principle approval from the Central Bank of the UAE (CBUAE) on January 7, 2026 to issue an AED-backed stablecoin, tightening the competitive race under the UAE’s Payment Token Services Regulation (PTSR). The signal is that the dirham stablecoin market is moving from “announcements” to staged regulatory execution, with banks and large issuers now […]