RAKBANK has gained in-principle approval to launch a stablecoin backed 1:1 by UAE dirhams. This move aligns with the UAE’s blockchain payment initiatives and aims to enhance the efficiency of digital transactions.
As of January 6, 2026, the stablecoin market reached a capitalization of 317.94 billion USD, primarily dominated by USDT at 60.68% and USDC, indicating a competitive landscape for RAKBANK’s new stablecoin.
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