RAKBANK May Become First UAE Bank to Offer Retail Crypto Trading via Bitpanda Integration
Main Idea
RAKBANK is set to become the first UAE bank to offer retail cryptocurrency trading in AED through its mobile app, facilitated by Bitpanda's regulated infrastructure, marking a significant step in UAE's crypto ecosystem development.
Key Points
1. RAKBANK enables retail users to buy, sell, and swap cryptocurrencies directly via its mobile app using UAE dirhams (AED).
2. The service is powered by Bitpanda's VARA-regulated infrastructure, ensuring compliance and security.
3. Customers benefit from zero foreign exchange fees and direct AED transactions, simplifying access to crypto.
4. The UAE's crypto ecosystem is growing, with over 600 crypto-related businesses and regulatory support like VARA in Dubai.
5. RAKBANK's initiative aligns with the UAE's ambition to become a global hub for blockchain and crypto innovation.
Description
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