According to @CoinMarketCap, the Central Bank of the UAE has granted RAKBank in-principle approval for a UAE dirham stablecoin that will be 1:1 backed, audited, and provide real-time reserve disclosures, source: @CoinMarketCap. The initiative joins an active UAE stablecoin field that includes e& also known as Etisalat, Circle’s USDC, and Ripple USD, source: @CoinMarketCap. Ras Al Khaimah’s RAK DAO has also announced a 2 million dollar fund to support blockchain builders, source: @CoinMarketCap.