RAKBANK is leading strategic developments in the UAE’s digital assets sector. RAKBANK has forged an agreement with Bitpanda Technology Solutions, a notable digital asset provider, to provide a robust platform that will enable UAE residents to effortlessly manage their digital assets. When fully launched, RAKBANK customers will be able to pursue various digital asset use cases, unlocking one of the most complete offerings available in the UAE market. This is, however, subject to CBUAE approval.
RAKBANK is teaming up with @Bitpanda_global Technology Solutions – a leading digital assets technology provider – to offer UAE residents the opportunity to pursue various digital assets use cases in a secure and efficient way.
When fully launched, RAKBANK customers will be… pic.twitter.com/DJkxgIM1id
— RAKBANK (@RAKBANKlive) August 19, 2024
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 partnership 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, believes that “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 asset opportunities.”
Bitpanda Technology Solutions stands as one of the most scalable digital asset infrastructure providers globally. As a highly regulated leader in the industry, it boasts a worldwide footprint and is already trusted by some of the world’s foremost financial institutions, banks, neobanks, and fintechs.
Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions, is banking on RAKBANK’s long history of pioneering crypto innovation in the UAE. “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.”
