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.

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Bakkt Holdings has announced the pricing of its public offering, raising approximately $75 million through 6,753,627 shares of Class A common stock and 746,373 pre-funded warrants. Each share is priced at $10.00, while each warrant is offered at $9.9999. The offering is expected to close on or around July 30, 2025, subject to customary closing conditions.

The company plans to use the net proceeds to purchase Bitcoin and other digital assets, in accordance with its investment policy. Additional funds will support working capital and general corporate purposes. This move underscores Bakkt’s continued commitment to expanding its presence in the digital asset space.

Bakkt has also granted underwriters a 30-day option to purchase up to an additional 1,125,000 shares or pre-funded warrants at the offering price, excluding discounts and commissions. The offering highlights growing investor confidence in the crypto sector and Bakkt’s role in driving adoption of digital currencies.

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Coinbase is in advanced talks to acquire CoinDCX, one of India’s largest crypto exchanges, in a move that could mark its major re-entry into the Indian market. The deal is reportedly valued at under $1 billion, a steep drop from CoinDCX’s peak valuation during the last crypto bull run. Coinbase recently secured a license from India’s Financial Intelligence Unit, signaling its renewed focus on the country after regulatory hurdles halted its 2022 launch.

The U.S.-based exchange has been on an acquisition spree, including the $2.9 billion purchase of Deribit, and the additions of Liquifi, Spindl, and Iron Fish. CEO Brian Armstrong said Coinbase remains open to more M&A deals, emphasizing that the company is ready to spend if the right opportunities emerge. These efforts aim to strengthen Coinbase’s global trading and infrastructure stack.

CoinDCX is still recovering from a $44 million security breach involving its internal liquidity wallet. CEO Sumit Gupta confirmed no customer funds were affected, as they remain in cold storage. The company will cover the losses from its treasury and has boosted security measures.

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MARA Holdings has completed a $950 million offering of zero-interest convertible senior notes due in 2032. Originally targeted at $850 million, the deal was upsized due to strong demand from institutional investors. Purchasers were also granted a 13-day option to buy up to an additional $200 million in notes.

MARA received approximately $940 million in net proceeds after deducting initial purchasers’ discounts and commissions. Of that, over $18 million was used to repurchase $19 million of 2026 convertible notes, and about $37 million was allocated to capped call hedges to help prevent dilution. The remaining funds will support MARA’s core Bitcoin acquisition strategy and general corporate needs, including working capital, strategic acquisitions, asset expansion, and debt repayment.

With nearly 50,000 Bitcoin valued at around $6 billion, MARA is already the second-largest corporate Bitcoin holder. This new funding will further strengthen its position in the crypto space, signaling strong institutional confidence in Bitcoin’s long-term value.

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PayPal has introduced a new service, Pay with Crypto, allowing small businesses in the U.S. to accept dozens of cryptocurrencies from customers worldwide. The crypto payments will be converted into PYUSD, PayPal’s stablecoin managed by Paxos, giving merchants faster access to funds and lower transaction fees.

CEO Alex Chriss said the move helps businesses overcome global challenges like high international payment costs and complex integrations. The service will launch with a 0.99% fee for the first year, rising to 1.5% later, which remains cheaper than international credit card processing. Supported wallets include Coinbase, OKX, Binance, Kraken, Phantom, MetaMask, and Exodus.

Even memecoins like TRUMP and FARTCOIN will be supported, with PayPal converting them to U.S. dollars via exchanges like Coinbase or Uniswap before delivering funds to merchants. Since entering crypto in 2020, PayPal has expanded its digital finance offerings, with PYUSD now the 12th-largest stablecoin. However, the company noted PYUSD is not insured by the FDIC or SIPC.

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