RAKBANK partners with Bitpanda to launch retail Crypto Assets services



According to news from Hash World, RAKBANK, a traditional bank in the UAE, has partnered with the Vienna-based crypto assets platform Bitpanda to become the first traditional bank in the UAE to offer retail crypto assets services. Users can buy, sell, and exchange crypto assets through RAKBANK's mobile banking app, with transactions settled directly in UAE Dirham (AED), avoiding exchange rate fees when trading in USD or EUR. The service executes transactions through Bitpanda's Dubai-regulated subsidiary Bitpanda Broker MENA DMCC, with user funds directly deducted from savings or current accounts, without the need to transfer to a third-party crypto assets exchange. RAKBANK CEO Raheel Ahmed stated that the solution provides UAE users with an efficient, seamless, and fully regulated crypto assets trading experience. The service is currently being launched on an invitation basis and will be opened to a wider audience in the future.

#Cryptocurrency # Blockchain #RAKBANK # Bitpanda #CryptoServices
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