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[RAKBank Receives Approval from UAE Central Bank to Issue AED Stablecoin] RAKBank has received in-principle approval from the Central Bank of the UAE (CBUAE) to issue a stablecoin pegged to the UAE Dirham. The stablecoin will be fully backed 1:1 by Dirhams held in independently regulated accounts and managed through audited smart contracts, with real-time proof of reserves. This initiative marks a step forward in RAKBank's digital asset strategy, following the bank's previous move to allow retail customers to trade cryptocurrencies through regulated brokerage partners.