⚖️Not legal advice. This page is informational only. Always verify against primary sources and consult qualified legal counsel before relying on this information.
United Arab Emirates
CBUAE Payment Token Services Regulation 2024 (+ VARA FRVA rules, ADGM FSRA regime)
EnforcedRegulator(s): Central Bank of the UAE (CBUAE), Dubai VARA, ADGM FSRANext review: 2026-09-08
AED-backed stablecoins licensed by CBUAE; foreign-currency stablecoins must be registered; Dubai FRVA issuers under VARA; ADGM has its own regulated-activity regime.
Three parallel regimes. CBUAE PTSR governs payment tokens UAE-wide: licenses AED-backed stablecoins, registers foreign-currency tokens; mainland retail payments only via CBUAE-approved Dirham Payment Tokens. VARA regulates FRVAs in onshore Dubai. ADGM's updated stablecoin regime effective 1 Jan 2026.
📋 Key Requirements
| Reserves | 1:1 backing in segregated accounts (AED tokens); CBUAE reserve and safeguarding rules |
|---|---|
| Redemption | Redemption at par; disclosure-led regime under VARA (whitepaper + risk disclosure) |
| Capital | Licensing-dependent per regulator (CBUAE / VARA / FSRA) |
| Attestation | Ongoing disclosure; 2026 supervisory focus on governance, capital discipline, operational resilience |
| Licensing | CBUAE licence (AED) or registration (foreign PT); VARA FRVA licence in Dubai; FSRA permission in ADGM |
📅 Timeline & Upcoming Deadlines
🏛️ Licensed / Approved Issuers
Zand Bank (Zand AED)
2025 ↗RAKBANK (in-principle)
2026-01-07 ↗Universal Digital (USDU, registered foreign PT)
2026-01-29 ↗🪙 Aligned Stablecoins on Atlas
No stablecoins from the Atlas directory are currently aligned with this framework.