Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
RAKBANK Secures In-Principle Approval for AED-Backed Stablecoin
A major step forward for the UAE digital asset ecosystem: RAKBANK has received in-principle approval from the UAE Central Bank to launch an AED-backed stablecoin. The token maintains a strict 1:1 peg through AED reserves held in segregated accounts, eliminating counterparty risk concerns.
Key safeguards include audited smart contracts and real-time attestation mechanisms ensuring full redemption capability at any time. This approach aligns with the region's push for regulated digital assets while maintaining the stability crucial for payments and commerce.
The development builds on RAKBANK's broader crypto trading initiatives, signaling institutional confidence in blockchain infrastructure. As the stablecoin landscape matures globally, UAE-denominated options add another layer to the decentralized finance toolkit, particularly for users and businesses across the Middle East seeking reliable on-chain settlement.