RAKBANK Shakes Up UAE Finance: Now Offers Direct Crypto Trading on Mobile App
Traditional banking just got a crypto facelift—RAKBANK cuts the middleman and lets users trade digital assets directly from their smartphones.
No more hopping between exchanges and wire transfers—the UAE's latest banking move blurs the line between fiat and crypto.
Because nothing says 'financial innovation' like letting banks take a slice of the volatile crypto pie they once scorned.
Partnership and Offerings
The integrated platform leverages technology from Bitpanda, which holds regulatory licenses in both the UAE and Europe. RAKBANK has stated that the service aims to offer institutional-grade security within its existing mobile banking infrastructure. Initially, the platform supports trading in Bitcoin, Ethereum, USDT, XRP, and Solana. RAKBANK has indicated that it plans to expand the range of supported cryptocurrencies through collaborations with additional regulated issuers.
“RAKBANK has been a leader and pioneer in digital assets among UAE banks, and we are proud to be the first conventional bank in the UAE to enable simple, secure, and regulated access to a world-class digital assets platform.” Said Raheel Ahmed, Group CEO of RAKBANK, “We recognize the opportunity this solution will provide to customers in the UAE, as we believe they deserve a more efficient and seamless crypto buying, selling, and swapping journey that is fully regulated and entirely in AED.” Raheel added.
This initiative positions RAKBANK as the first conventional bank in the UAE to integrate cryptocurrency trading directly within its Core retail banking services. Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, considers this collaboration a huge moment for digital assets in the UAE region.
Konrad stated. “This is exactly how the future of finance should look: simple, compliant, and built to meet real user needs.”
With over 3.5 million customer accounts, RAKBANK’s MOVE into integrated crypto services could potentially influence the rate of retail crypto adoption in the UAE by offering traditional banking customers a familiar interface for digital asset transactions.
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