iPhone | iPad
Android
Huawei
Data highlights Abu Dhabi’s increasing attractiveness as a leading hub for technological innovation and business
KT APPDOWNLOAD
RAKBANK partners with Bitpanda to unlock digital assets in the UAE
Partnership to offer UAE residents an opportunity to pursue digital assets use cases
The National Bank of Ras Al Khaimah (RAKBANK) has reached an agreement with Bitpanda Technology Solutions, a leading digital assets infrastructure provider, to provide a robust platform that will enable UAE residents to effortlessly manage digital assets.
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 the digital financial breakthrough 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.
Dongjun “DJ” Choi, Group Chief Customer Officer of RAKBANK commented: “We 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 our expertise, we aim to revolutionize the traditional financial landscape for the benefit of our customers, enabling them to explore a broader range of digital assets opportunities.”
Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions added: “RAKBANK has a long history of pioneering crypto innovation in the UAE, and we want to support their ambitions. Bitpanda Technology Solutions is fully modular, enabling us to tailor products to our partners’ needs. This partnership exemplifies the importance of that flexibility. Together, we will transform crypto access for millions in the UAE and lay the groundwork for future innovation.”
More news from Business
Events such as the Dubai Shopping Festival, Pre-Ramadan, and Ramadan Sale impacted consumers spending
First timers should consider entry through an aggressive hybrid equity fund
Lender plans to broaden its scope of digital asset offerings in the coming months
Tax policy has emerged as a key focus for investors ahead of the Nov. 5 election
Kristian Cuku’s journey from ordinary beginnings to remarkable success
Apple shares were barely changed in early afternoon trading
Lying at the nexus of Eastern Europe, the Middle East, and Western Asia, it is enriched by the influences of many cultures