The UAE bank RAKBANK partners with Bitpanda to offer cryptocurrency services to retail investors

By: theblockbeats.news|2025/07/29 09:02:17

BlockBeats News, July 29th, according to CoinDesk, RAKBANK, one of the oldest banks in the UAE, has partnered with the cryptocurrency platform Bitpanda to become the UAE's first traditional bank to offer cryptocurrency services to retail customers. Users can now buy, sell, and exchange cryptocurrency through RAKBANK's mobile banking app, with transactions settled directly in Emirati Dirham (AED), avoiding the exchange rate fees associated with using USD or EUR for transactions.

This service is facilitated through Bitpanda's Dubai-regulated subsidiary, Bitpanda Broker MENA DMCC, with funds deducted directly from users' savings or current accounts, eliminating the need to transfer funds to a third-party cryptocurrency exchange.

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