Rakbank Retail becomes the first UAE traditional bank to offer crypto trading for retail customers world news
TL; Dr:
- RAKbank is the first traditional
UAE Bank to enable retail crypto trading through its mobile app.
- Is distributed in collaboration with service
Bitpanda Dalal Meena DMCC, a licensed Vara-regulated platform.
- Customers can buy, sell and swap bitcoin, atherium,
Sola And XRP directly in AED, without foreign exchange fee or third party exchanges.
- Initially available only by invitation, a comprehensive rollout is expected in the coming months.
Rakbank UAE is at the forefront of regulated Fintech innovation in the region.
In a milestone for the UAE finance, the National Bank of Ras Al Khamah Rakbank has introduced a regulated retail crypto brokerage service integrated in its mobile banking app. By the end of July 2025, customers can purchase, sell and swap digital assets such as bitcoin (BTC), atherium (ETH), Solan (SOL), and XRP, without the need to fund or pay foreign exchange fees, directly from their UAE Dirham accounts, from their UAE Dirham accounts. It makes Rakbank the first traditional bank in the UAE, offering such a service through an official partnership with the groom.
Strategic importance
This step is an important point in UAE’s fintech development, which integrates cryptocurrency trading into existing banking experience. Cooperation takes advantage of the institutional-grade infrastructure of Bitpanda, allowing retail access to digital assets under regulatory inspection. Rakbank provides strengthening of confidence between domestic users and global investors, by avoiding cross -border currency conversion.
Major features and process
- Seemless Banking Integration: Customers use their existing Rakbank savings or current accounts to trade Crypto in-app, no external transfer is required.
- Complete transactions in AEDs: Trade resides in UAE Dirham, eliminating currency conversion costs and simplifying pricing.
- Selected asset list: The launch contains major cryptocurrency (BTC, Eth, SOL, XRP), to be combined over time with other tokens.
- Regulated Framework: Bitpanda Broker Manna operates under DMCC Groom Licensing, UAE ensures compliance with digital asset regulations,
- Invitations – Start: Initially available limited rollouts, required soon with comprehensive access.
Executive statement
According to FF News, Group CEO Rachel Ahmed said: “Rakbank has been a leader, AEA is proud to be the first traditional bank in the UAE to provide simple, safe and fully regulated crypto trading.” Bitpanda Deputy CEO Lucas Angerdorfer-Konrad said: “This cooperation is a major step in reaching the safe, obedient crypto access to the customers through a reliable banking partner.”
Effect and wide implication
- Using Crypto: Traditional banking integration removes obstacles for retail participation, especially among low technology-loving users.
- Regional exemplary: While other UAE banks evaluate similar tricks, Rakbank received the first-muver benefit in offering regulated crypto to retail customers.
- The national strategy supports: The launch aligns to be a global fintech leader with the UAE’s ambition, which outlines the growth of the groom’s regulatory structure and digital asset ecosystem.
Integration of Vara-Regulated Crypto Trading Services within Rakbank’s own mobile banking app is an important moment in UAE Banking. This step simplifies access to digital assets and eliminates traditional transactions obstacles keeping retail investment under a regulated, local structure. As infections in service are infections from invitation-based to comprehensive availability, it forms the basis for other financial institutions in the UAE to follow a suit, starting a new era of mainstream crypto banking of the mainstream.
Fasting
- 1. What has Rakbank launched?
Rakbank is the first traditional UAE bank to offer retail crypto trading directly through its mobile app.
- 2. Which cryptocurrency can I trade?
At the time of launch, you can trade bitcoin (BTC), atherium (eth), solan (soul), and XRP.
- 3. Do I need a separate crypto wallet or exchange account?
No, you can trade directly from your Rakbank AED account-no third-party wallets or exchanges are required.
- 4. Is this service regulated?
Yes. The Bitpanda broker is operated by DMCC, licensed by Dubai’s Virtual Assets Regulatory Authority (VARA).
- 5. Is service available to all now?
not yet. This is currently only from the invitation, but a broad rollout is expected soon.
