rakbank

According to market news, RAKBank is preparing to join the UAE stablecoin ecosystem after receiving in-principle approval from the Central Bank of the UAE (CBUAE) to issue UAE Dirham-pegged payment tokens.The bank stated in a press release on Wednesday that the upcoming stablecoin will be fully backed 1:1 by Dirhams held in a separate regulated account and managed by audited smart contracts, with real-time proof of reserves. The launch of this stablecoin marks a new phase in RAKBank's digital asset strategy, following the bank's actions in 2025 to allow retail customers to trade cryptocurrencies through regulated brokerage partners.

ChainCatcher news, one of the largest banks in the UAE, RAKBANK, has launched cryptocurrency trading services through its application, with BNB being one of the first 8 cryptocurrencies available to customers.

ChainCatcher news, according to Cointelegraph, a state-owned bank in the United Arab Emirates (UAE), RAKBANK, has partnered with cryptocurrency infrastructure provider Bitpanda Technology Solutions to create a digital asset management platform for UAE residents.RAKBANK Group's Chief Customer Officer Dongjun Choi stated, "We believe that digital assets are one of the ways for future customers to manage their finances more effectively and securely." Although the partnership has been announced, the team also clarified that the platform still requires approval from the Central Bank of the United Arab Emirates.Choi also mentioned that this collaboration aims to "fill a market gap." The executive believes there is a need for a regulated banking platform to handle digital assets, and their goal is to provide customers with a broader range of digital asset opportunities. Through this partnership, the bank will not need to develop internal digital asset infrastructure.