In a groundbreaking move, RAKBANK has become the UAE’s first conventional bank to enable AED crypto trading directly through its mobile app. This revolutionary step bridges the gap between traditional banking and digital assets, offering a seamless experience for retail investors.
Why RAKBANK’s Crypto Trading Service is a Game-Changer
RAKBANK’s new service, launched in July 2025, allows users to buy, sell, and swap cryptocurrencies using UAE dirhams (AED) without foreign exchange fees. Key features include:
- Direct trading from existing bank accounts
- No need for external crypto exchanges
- Powered by Bitpanda’s regulated infrastructure
- Competitive low buy fees
How Dubai’s VARA Regulation Enables Secure Crypto Trading
The service operates under Dubai’s Virtual Assets Regulatory Authority (VARA), ensuring compliance and consumer protection. This regulatory framework has attracted over 600 crypto businesses to Dubai, creating a robust ecosystem for digital finance.
Bitpanda Partnership: The Technology Behind RAKBANK’s Crypto Service
RAKBANK leveraged Bitpanda’s existing infrastructure to accelerate deployment. Benefits of this partnership include:
| Advantage | Description |
|---|---|
| Regulated Platform | Bitpanda is licensed in multiple jurisdictions |
| Institutional-grade | Linked to partners like Deutsche Bank |
| Local Compliance | Operates through Bitpanda Broker MENA DMCC |
What This Means for UAE Crypto Investors
The service addresses key pain points for UAE residents by:
- Eliminating foreign exchange hurdles
- Providing a regulated on-ramp to crypto
- Simplifying the trading process
- Offering educational resources for beginners
FAQs About RAKBANK’s Crypto Trading Service
Q: Is RAKBANK’s crypto service available to all customers?
A: Currently invitation-only, with wider rollout planned in coming months.
Q: What cryptocurrencies can I trade?
A: Specific assets aren’t disclosed, but major coins are expected.
Q: How does this differ from using a crypto exchange?
A: It’s integrated with your bank account, avoiding transfers to external platforms.
Q: What are the risks?
A: Crypto volatility remains, but the regulated structure adds protection.
