RAKBANK has become the first traditional bank in the UAE to integrate cryptocurrency trading directly within its mobile banking application through a partnership with Bitpanda.
The landmark collaboration allows RAKBANK retail customers to purchase, sell, and exchange digital assets natively within the bank’s platform. All transactions settle directly in UAE Dirhams (AED), eliminating foreign exchange fees typically associated with USD or EUR settlements.
The service operates under Bitpanda Broker MENA DMCC, a Dubai-regulated entity ensuring security and regulatory compliance for transactions. This native integration streamlines access to cryptocurrencies without requiring third-party platform transfers or currency conversions.
Industry observers identify the initiative as a pivotal move toward mainstream digital asset adoption in the UAE. The partnership effectively bridges conventional banking infrastructure with cryptocurrency markets, positioning RAKBANK at the forefront of financial innovation.