True Market First: RAKBANK & Bitpanda enable buying & selling of Digital Currencies

RAKBANK and Bitpanda's collaboration enables RAKBANK customers to trade crypto within their banking app, marking a first for conventional banks in the UAE. The partnership focuses on providing a simplified and secure platform, addressing the complexities and trust issues often associated with crypto exchanges. RAKBANK chose Bitpanda for its experience with European banks and strong regulatory compliance. A key feature is the ability to trade in dirhams, eliminating conversion costs, and the platform boasts onboarding times of just three minutes. Both companies emphasized the importance of a progressive regulatory environment in the UAE, which fosters innovation while protecting users. Future plans include expanding the range of cryptocurrencies and exploring institutional offerings.