Bitprismia

XRP Records Another Win With Government-owned Bank in UAE

2025-07-29 14:34:24

Main Idea

RAKBANK, a government-owned bank in the UAE, has become the first in the country to allow customers to buy and sell cryptocurrencies like Bitcoin, Ethereum, Solana, and XRP using AED, marking a significant step in regional crypto adoption.

Key Points

1. RAKBANK now permits trading of Bitcoin, Ethereum, Solana, and XRP in AED, simplifying the process for retail customers.

2. The bank partnered with Bitpanda, a Vienna-based crypto exchange, through its Dubai-regulated subsidiary Bitpanda Broker MENA DMCC.

3. RAKBANK CEO Raheel Ahmed stated the service aims to provide a seamless and regulated crypto trading experience in AED.

4. Industry commentators view this as a sign of crypto becoming a regulated, bank-grade asset class, with potential for broader institutional adoption in the Middle East.

5. The move aligns with the UAE's efforts to formalize digital asset activity, with RAKBANK's involvement seen as a significant signal for regional crypto integration.

Description

RAKBAN, a government-owned bank in the United Arab Emirates (UAE), has become the first bank in the country to allow retail clients to trade cryptocurrencies directly in UAE Dirham. The financial institution now permits customers to buy and sell Bitcoin , Ethereum, Solana, and XRP using AED, marking a notable development in regional banking and digital asset accessibility. The new development indicates that RAKBANK is facilitating trading in the four major cryptocurrencies via its platform, deno...

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Tags:
Cryptocurrency News RAKBANK XRP
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