Rakbank has launched a crypto brokerage service through its mobile app, becoming the first conventional bank in the United Arab Emirates (UAE) to offer crypto trading for retail customers.
Rakbank Partners Bitpanda to Launch Crypto Brokerage Service for Retail Customers in the UAE
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This new service allows Rakbank customers to buy, sell, and swap cryptocurrencies via Bitpanda’s trading platform, with all transactions conducted in AED to eliminate foreign currency transfer fees. Customers can execute transactions directly from their Rakbank current or savings accounts, streamlining the process of accessing digital assets. The initiative is powered by a partnership with Bitpanda, a regulated digital asset infrastructure provider, ensuring a fully compliant trading environment. Currently available by invitation only, the service will be gradually rolled out to more customers in the coming months. Rakbank’s Group CEO, Raheel Ahmed, emphasized the bank’s commitment to providing a secure and efficient crypto trading experience, while Bitpanda’s Deputy CEO, Lukas Enzersdorfer-Konrad, highlighted the significance of this collaboration for the region’s digital asset landscape.
