Pre-launchPharos hasn't ingested data for this one yet.Announced

Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.

RAKBank (The National Bank of Ras Al Khaimah P.S.C.) received in-principle approval from the Central Bank of the UAE on January 7 2026 to issue an AED-backed payment token (stablecoin), subject to completion of regulatory and operational requirements under the CBUAE Payment Token Services Regulation. Planned to be fully backed 1:1 by dirhams in segregated, regulated accounts with full redemption at par, audited smart contracts, and real-time reserve attestations, targeting digital payments, asset tokenization, and cross-border settlements. The first conventional commercial-bank AED payment token under the CBUAE regime — distinct from Zand AED, AE Coin (Al Maryah), and the FAB/ADQ/IHC dirham initiative. Ticker, chains, issuing-entity structure, and launch timing not yet announced; a pilot phase will follow in due course. Pharos tracks the AED peg as OTHER until dirham peg support is built.

RAKBank AED Stablecoin (AED-RAKBANK) Pre-launch Stablecoin Tracker

AED-RAKBANK

At a Glance

Backing: Real-World Asset Backed
Governance: Centralized (CeFi)
Peg Currency: Other
Jurisdiction: United Arab Emirates (Central Bank of the UAE (CBUAE))

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Activity Timeline

Jan 7, 2026Regulatory

CBUAE grants RAKBank in-principle approval to issue an AED-backed stablecoin

The Central Bank of the UAE grants RAKBank in-principle approval to issue a dirham-backed payment token under the Payment Token Services Regulation, subject to completing regulatory and operational requirements.

Source

The First Commercial-Bank Dirham

AED-RAKBANK is RAKBank's pre-launch dirham stablecoin, notable less for what it is than for who is issuing it: the first conventional commercial bank to win CBUAE in-principle approval for an AED payment token, as opposed to the digital-bank and sovereign-wealth vehicles (Zand AED, AE Coin, the FAB/ADQ/IHC effort) that got there first. The January 2026 nod arrives under the UAE's Payment Token Services Regulation, which permits payment use only for dirham-backed tokens and demands a published white paper plus full reserves. RAKBank's plan ticks the regulatory boxes — 1:1 dirhams in segregated regulated accounts, full par , audited contracts, real-time reserve — but 'in-principle' is doing heavy lifting: no ticker, no chain, no issuing subsidiary, and no launch date have been disclosed, and the regulation may force RAKBank into a separate licensed issuer it hasn't confirmed. Pharos tracks the AED peg as OTHER until dirham support is built. A pilot is promised 'in due course,' which in regulatory dialect means watch this space.

Updated June 13, 2026