RAKBANK Becomes First Traditional UAE Bank to Offer Crypto Trading
RAKBANK secured a stellar achievement by becoming the first local bank in the Emirates to introduce cryptocurrency trading services for its customers. This is a big move made by the bank in digital banking, as until now, only fintech companies and international crypto platforms have been providing these services. With the launch of crypto trading services, RAKBANK is offering customers a safer and easier way to access and invest in cryptocurrencies.
Crypto Access Through the RAKBANK Mobile App
The newly launched crypto trading service by RAKBANK is now accessible to customers through the mobile banking app.
With this service, customers can:
- Easily buy, sell, and exchange cryptocurrencies
- Use money from their existing savings or current accounts
- Don’t need to face the hassle of joining external crypto exchanges
By providing digital trading services directly through the mobile banking app, RAKBANK is making crypto trading simple and easy for customers, as they are already familiar with all features on the trusted bank mobile app.
In Partnership with Bitpanda – A Regulated Crypto Provider
RAKBANK and Bitpanda, a trusted digital asset company, have collaborated to offer customers a safe and fully regulated platform for crypto trading. Bitpanda is already running operations in the Emirates through Bitpanda Broker MENA DMCC, which has a secure license from VARA. The reliable digital asset company also runs operations in several European countries.
Trade in AED Directly from Your RAKBANK Account – No Hidden Fees
With the RAKBANK trusted mobile banking app, investors can now carry out all crypto transactions in UAE dirhams (AED). This means now they don’t have to pay any extra fees, like foreign currency losses and forex fees. The crypto trades are now directly linked with the customer’s RAKBANK account, and they don’t need to move money to external platforms. Besides making the process cost-effective, the bank has made it simpler and more secure for all types of investors, including beginners and regular ones.
Invite-Only Launch with a Clear Vision
The new crypto trading service by RAKBANK is at present limited to invited users only. The bank is planning to extend availability for additional customers over the next few months. The bank’s CEO, Raheel Ahmed, highlighted their vision and said the bank aims to offer a simple, efficient, and fully regulated crypto experience in AED, offering an easy and protected way to trade crypto.
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