RAKBank has introduced a crypto trading service for retail clients, marking a major step in UAE digital finance. The bank now allows users to buy, sell, and swap cryptocurrencies directly through its mobile app. This launch makes RAKBank the first traditional bank in the country to offer such access.
The UAE crypto trading access begins through a partnership with Bitpanda, a regulated digital asset platform. Customers can use the new service by invitation via RAKBank’s mobile application. Over the next few months, the bank will open the service to more users.
Importantly, all transactions take place in UAE dirhams. This eliminates foreign exchange losses and fees for customers. In addition, UAE crypto trading access is now faster, more secure, and more cost-effective for RAKBank clients.
Users no longer need to move money across different platforms or use third-party crypto exchanges. Instead, they can complete transactions directly from their RAKBank current or savings account. This improves convenience and reduces complexity in the process.
Therefore, RAKBank partnered with Bitpanda Broker MENA DMCC to ensure regulatory compliance. Bitpanda is registered under the UAE’s Virtual Assets Regulatory Authority (VARA) and licensed by several European regulators. The partnership ensures that users access a safe and fully compliant platform.
Through this service, RAKBank aims to make digital asset trading more accessible to everyday users. However, the entry into the crypto trading market in the UAE now comes with full regulatory oversight and integration with existing banking services. This creates a seamless experience that aligns with local regulations.
According to the bank’s CEO, customers deserve simple and secure ways to engage with crypto. He believes this platform gives users better control over their digital asset journey. More importantly, it keeps all operations within the local currency.
Furthermore, RAKBank plans to expand the service gradually while monitoring customer response. The phased rollout allows the bank to improve features and maintain a secure user experience. This careful approach supports long-term digital growth within the country’s financial sector.
Moreover, this initiative supports the UAE’s broader digital transformation goals. It signals a clear shift toward regulated, accessible, and inclusive crypto services across the region. As a result, banks are now playing a bigger role in shaping the future of fintech.
In conclusion, with RAKBank leading the way, UAE crypto trading access is entering a new era. This development reflects growing demand from retail users for secure and efficient digital services.
