• TEXT= DATE: 08.12.2025 Bitcoin MENA | 8-9 Dec 2025 | Abu Dhabi
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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
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image-alt-1BTC Dominance: 58.93%
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image-alt-6 ETH Gas Price: 5.1 Gwei
 

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RAK Bank to offer crypto trading

RAK Bank to offer crypto trading through Bitpanda in regulated UAE rollout

https://icn.live/wp-content/uploads/2025/07/RAK-Bank-to-offer-crypto-trading.mp3
  • by ICN.live
Fatima Al-Nouri

RAK Bank to offer crypto trading marks a bold step into the digital finance era for the United Arab Emirates.

The National Bank of Ras Al Khaimah (Rakbank) has officially become the first traditional bank in the UAE to provide retail crypto trading services through its mobile app.

Customers can now buy, sell, and swap cryptocurrencies directly from their dirham accounts. This service is made possible through a strategic partnership with Bitpanda, an Austria-based digital asset platform. Users no longer need to transfer funds to third-party crypto exchanges, which also eliminates foreign currency conversion fees.

The offering is regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), ensuring safety and compliance. It’s a first for conventional banking in the region and a sign that digital assets are being integrated into mainstream finance.

Regulated crypto trading powered by Bitpanda

Transactions are handled by Bitpanda Broker MENA DMCC, the Dubai-regulated entity responsible for executing trades and maintaining custody. This structure delivers a fully compliant experience while streamlining access to digital assets.

Bitpanda already works with several major European institutions, including Deutsche Bank and N26. Now, its partnership with Rakbank brings a similar level of access and infrastructure to UAE residents.

Raheel Ahmed, CEO of Rakbank, highlighted that the feature allows for a “more efficient and seamless crypto journey” entirely in UAE dirhams. This removes barriers like international transfers or separate crypto accounts.

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The service is currently available by invitation only. However, the bank plans a broader rollout to the public in the coming months. This reflects Rakbank’s larger strategy to make digital asset management more accessible to its customers.

This move follows their 2023 partnership with Bitpanda aimed at building a platform for secure digital asset access. It shows Rakbank’s long-term commitment to integrating crypto services in a regulated environment.

A significant step in UAE’s digital finance transformation

The UAE continues to position itself as a global hub for digital finance and innovation. Over 600 crypto firms now operate within Dubai’s Multi Commodities Centre free zone. Regulatory bodies like VARA are playing a key role in making digital assets safer and more mainstream.

By launching this feature, Rakbank leads the way among UAE’s legacy financial institutions. It’s a pivotal shift in how crypto is accessed — no longer through fringe apps or international services, but directly from your local bank.

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What is RAK Bank offering in terms of crypto trading?

RAK Bank is now providing a fully integrated crypto trading service for retail customers through its mobile banking app. Powered by Bitpanda, users can buy, sell, and swap cryptocurrencies directly using UAE dirhams. There’s no need to transfer funds to third-party platforms or convert currencies. This makes the process more seamless, secure, and cost-effective — and it’s fully regulated within the UAE.

How is this crypto trading service regulated?

The crypto trading feature is regulated by Dubai’s Virtual Assets Regulatory Authority (VARA). It is powered by Bitpanda Broker MENA DMCC, a licensed and compliant entity. Bitpanda also holds multiple regulatory approvals across Europe. This partnership ensures that all trading activity conducted through the Rakbank app follows strict legal and financial guidelines, providing users with safety and transparency.

Why is this a major development for banking in the UAE?

This is the first time a conventional bank in the UAE has integrated crypto trading into its banking ecosystem. By offering direct access to digital assets from a local dirham account, Rakbank removes barriers that many users face, such as foreign exchange fees or the need to navigate external exchanges. It brings digital asset access to the mainstream, within the familiar environment of a trusted local bank.

Is the crypto trading feature available to all customers now?

Not yet. The feature is currently offered on an invitation-only basis. However, Rakbank plans a broader public rollout in the near future. Once fully launched, customers will be able to manage their crypto portfolios as easily as they handle traditional banking transactions — all within a regulated and secure framework.

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