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RAKBANK has made history by becoming the first conventional bank in the UAE to offer crypto trading services to retail customers. The government-owned bank announced the launch of its crypto brokerage service through its mobile app, allowing users to buy, sell, and swap cryptocurrencies directly from their dirham accounts. This eliminates the need for external exchanges or currency conversions, making crypto transactions simpler and fee-free.
The new service is powered by Austrian fintech Bitpanda, and regulated through Bitpanda Broker MENA DMCC, under Dubai’s Virtual Assets Regulatory Authority. Customers can now enjoy seamless, secure, and fully regulated crypto trading directly through RAKBANK’s digital platform. The service is currently available by invitation, with wider access expected soon.
This move supports the UAE’s growing ambition to become a global crypto hub. With over 600 crypto companies already based in Dubai’s free zones and financial centers, RAKBANK’s initiative marks a major step in bridging traditional banking with the future of finance.
