• RakBank and Bitpanda partner to enhance digital asset access in UAE, pending central bank approval.

  • New platform to offer secure, regulated digital asset management for UAE residents.

  • Bitpanda expands into the UAE, joining efforts with RakBank to revolutionize crypto access.

RakBank and Bitpanda Technology Solutions are joining forces to launch a new digital asset management platform in the UAE, pending regulatory approval from the Central Bank of the UAE.

This partnership aims to provide UAE residents with a secure and regulated platform for engaging with a variety of digital assets.

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

According to the report, RakBank’s cooperation with Bitpanda Technology Solutions will allow customers to explore a wide range of digital assets through a newly developed platform. The partnership aligns with Bitpanda’s strategy to expand its footprint across Dubai and the wider UAE, marking its first major entry into the region.

Bitpanda, a crypto broker with a growing reputation that recently partnered with AC Milan as the club’s premium and official crypto trading partner, also confirmed the alliance with RakBank. They highlighted their commitment to improving digital asset access in the UAE. This partnership aims to give residents a secure and regulated platform for managing their financial activities and ensuring trustworthy digital asset transactions.

In addition, the bank’s Group Chief Customer Officer, Dongjun DJ Choi, stated that the partnership intends to fill a market gap by offering a regulated and reliable platform for dealing with digital assets. Choi noted that the collaboration is expected to revolutionize the traditional financial landscape, allowing customers to manage their finances more securely and efficiently.

Bitpanda’s CEO, Lukas Enzersdorfer-Konrad, added to this, noting that the alliance indicates that Bitpanda’s modular technology will enable the company to tailor its products to meet RakBank’s specific needs. 

Enzersdorfer-Konrad praised RakBank’s leadership in driving crypto innovation in the UAE and expressed confidence that the partnership will significantly improve crypto access for millions of residents.

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