The crypto broker Bitpanda has formed a new partnership with RAKBANK to expand into Dubai and throughout the United Arab Emirates (UAE). Among other things, the partnership includes the launch of a new platform for digital payments by the bank.
Bitpanda and the partnership with RAKBANK: the crypto broker expands to Dubai
Bitpanda has finalized its first partnership in Dubai, with the National Bank of Ras Al Khaimah (RAKBANK).
RAKBANK is teaming up with @Bitpanda_global Technology Solutions – a leading digital assets technology provider – to offer UAE residents the opportunity to pursue various digital assets use cases in a secure and efficient way.
When fully launched, RAKBANK customers will be… pic.twitter.com/DJkxgIM1id
— RAKBANK (@RAKBANKlive) August 19, 2024
“RAKBANK collaborates with @Bitpanda_global Technology Solutions – a leading provider of technologies for digital assets – to offer residents of the United Arab Emirates the opportunity to pursue various use cases of digital assets in a secure and efficient manner. Once launched, RAKBANK customers will be able to explore a wide range of opportunities for digital assets, unlocking one of the most comprehensive offerings available in the UAE market, subject to approval by the Central Bank of the UAE.”
The new partnership signed by Bitpanda-RAKBANK will offer residents of the United Arab Emirates (UAE) the opportunity to use various digital assets in a secure and efficient manner.
Specifically, there will be the launch of a solid platform that will allow UAE residents to effortlessly manage digital assets. Among other things, users will be able to pursue various use cases of digital assets and settle with payment tokens in a secure and protected manner.
At the moment, every activity in anticipation of the new platform must still be approved by the CBUAE.
Bitpanda and its expansion to Dubai and throughout the UAE region
In its mission to expand to Dubai and UAE, Bitpanda has managed to conquer one of the most important banks, namely RAKBANK.
The idea is to participate in the digital financial shift in the United Arab Emirates, while at the same time fostering the growth of the digital asset sector.
Obviously, the provision of services by Bitpanda Broker MENA DMCC will be subject to operational approval and licensing by VARA, and that RAKBANK obtains the necessary approval from CBUAE.
In this regard, Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions, said:
“One of the main reasons why we recently launched our business in the United Arab Emirates is the ambition and vision that the country is demonstrating in the digital asset space – this is a perfect example of it. Together with RAKBANK, we will transform access to cryptocurrencies for millions of people in the UAE and lay the foundations for future innovation.”
Official crypto partner of AC Milan
And speaking of collaborations, Bitpanda announced that it is also the new Official Crypto Trading Partner of the Italian football team AC Milan.
This is a long-term partnership that will see the crypto broker become a Premium Partner of the rossoneri.
In practice, right from the first day of Serie A and throughout the season, Bitpanda will be present at the San Siro stadium. Not only that, in addition to showcasing itself, Bitpanda will be able to create exciting content and offer exclusive experiences to its users. At stake, there is also VIP access to AC Milan’s matches and events.
At the same time, AC Milan itself gains a valuable ally in its digitalization journey.
