RAKBANK Partners With Bitpanda to Offer First In-App Crypto Trading in UAE
Main Idea
RAKBANK has partnered with Bitpanda to launch the UAE's first in-app crypto trading service by a conventional bank, offering regulated and secure transactions in AED.
Key Points
1. RAKBANK is the first conventional bank in the UAE to offer crypto brokerage services directly through its mobile banking app.
2. The service, powered by Bitpanda, allows users to buy, sell, and swap cryptocurrencies in UAE Dirhams (AED).
3. All transactions are fully regulated through Bitpanda’s VARA-licensed entity, Bitpanda Broker MENA DMCC.
4. RAKBANK aims to lead the digital finance movement in the UAE, aligning with the country's broader strategy for digital assets.
5. The launch is initially invitation-only, with a broader rollout planned for the future.
Description
RAKBANK has launched the UAE’s first crypto brokerage service by a conventional bank. Bitpanda powers the service, allowing users to buy, sell, and swap crypto in AED. All transactions are fully regulated through Bitpanda’s VARA-licensed entity. RAKBANK has officially become the first conventional bank in the UAE to offer crypto brokerage services directly through its mobile banking app. This development marks a notable step forward in bridging traditional banking with the rapidly evolving world...
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