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UAE Lender RAKBANK Offers Retail Customers Crypto With Bitpanda
Customers can now buy, sell, and swap crypto via RAKBANK’s app through Bitpanda’s regulated platform.
Updated Jul 29, 2025, 8:38 a.m. Published Jul 29, 2025, 7:42 a.m.
What to know:
- RAKBANK says it’s the first traditional bank in the UAE to integrate retail crypto trading.
- The service is powered by Bitpanda and settles directly in AED.
- Rollout begins by invitation, with broader availability coming soon.
RAKBANK, one of the oldest lenders in the United Arab Emirates (UAE), is allowing retail customers access to cryptocurrencies through a partnership with Vienna-based crypto exchange Bitpanda, the companies said on Tuesday.
Users can now access Bitcoin , Ethereum , Solana and Ripple (XRP) via RAKBANK’s mobile banking app, with plan to expand to more coins in the offer in the coming months, a spokesman said via email.
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The service includes buying, selling and swapping crypto assets using dirhams (AED), sidestepping the typical foreign exchange charges tied to trading in dollars or euros.
Transactions are processed directly from users’ savings or current accounts, eliminating the need to transfer funds to and from third-party crypto exchanges, according to a press release.
Bitpanda’s Dubai-regulated affiliate, Bitpanda Broker MENA DMCC, will handle trade execution. Bitpanda is already regulated in Germany and Vienna, and works with financial institutions like Deutsche Bank and Raiffeisen Bank.
RAKBANK, also known as the National Bank of Ras Al Khaimah, is the first “conventional bank” in the UAE to connect users with digital assets, according to CEO Raheel Ahmed.
“We recognize the opportunity this solution will provide to customers in the UAE, as we believe they deserve a more efficient and seamless crypto buying, selling and swapping journey that is fully regulated and entirely in AED,” he said.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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