This partnership unites RAKBANK, a UAE bank in the digital assets sector, with Bitpanda, a digital assets provider. When fully launched, RAKBANK customers will be able to pursue various digital assets use cases unlocking one of the most complete offerings available in the UAE market. This is however subject to CBUAE approval.
The partnership positions RAKBANK and Bitpanda at the forefront of digital financial innovation in the UAE, while fostering growth in the digital assets sector. This allows banks to participate in the virtual asset economy without needing to develop their own in-house virtual asset capabilities.
In a comment, representatives from RAKBANK said they 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 in digital assets. By merging their expertise, they aim to revolutionise the traditional financial landscape for the benefit of their customers, enabling them to explore a broader range of digital assets opportunities.
In a reply, representatives from Bitpanda said RAKBANK has a long history of pioneering crypto innovation in the UAE, and they want to support their ambitions. Bitpanda Technology Solutions is fully modular, enabling them to tailor products to their partners' needs. This partnership exemplifies the importance of that flexibility. Together, they will transform crypto access in the UAE and lay the groundwork for future innovation.
Bitpanda Technology Solutions stands as a scalable digital assets infrastructure provider. As a highly regulated player in the industry, it has a global footprint and is already trusted by some of the world's top financial institutions, banks, neobanks, and fintechs.
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