RAKBANK & Bitpanda Join Forces for UAE Digital Asset Platform

The National Bank of Ras Al Khaimah (RAKBANK), a leading bank in the UAE known for its advancements in the digital assets sector, has entered into a significant agreement with Bitpanda Technology Solutions. Bitpanda, a prominent provider of digital assets infrastructure, will offer a comprehensive platform enabling UAE residents to manage their digital assets easily.

Expanding Digital Asset Capabilities for RAKBANK Customers

Upon full launch, RAKBANK customers will gain access to a wide range of digital asset use cases, providing one of the most comprehensive offerings in the UAE market. However, the availability of these services will be subject to approval from the Central Bank of the UAE (CBUAE).

A Strategic Move in the UAE's Digital Financial Sector

This partnership positions RAKBANK and Bitpanda at the cutting edge of the digital financial revolution in the UAE. By collaborating with Bitpanda, RAKBANK can offer innovative digital asset solutions without needing to build its virtual asset capabilities, allowing the bank to actively participate in the growing virtual asset economy.

Dongjun “DJ” Choi, Group Chief Customer Officer of RAKBANK commented: “We believe digital assets represent one of the future ways for customers to manage their finances more efficiently and securely. This partnership is poised to fill the gap in the market for a trustworthy and regulated banking platform to deal with digital assets. By merging our expertise, we aim to revolutionize the traditional financial landscape for the benefit of our customers, enabling them to explore a broader range of digital assets opportunities.”

Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions added: “RAKBANK has a long history of pioneering crypto innovation in the UAE, and we want to support their ambitions. Bitpanda Technology Solutions is fully modular, enabling us to tailor products to our partners' needs. This partnership exemplifies the importance of that flexibility. Together, we will transform crypto access for millions in the UAE and lay the groundwork for future innovation.”

Bitpanda's Global Leadership in Digital Assets Infrastructure

Bitpanda Technology Solutions is recognized as one of the most scalable and highly regulated digital assets infrastructure providers globally. With a strong international presence, Bitpanda is trusted by leading financial institutions, banks, neobanks, and FinTechs worldwide, underscoring its reputation as a leader in the industry.