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RAKBANK in UAE Partners with Bitpanda to Offer Cryptocurrency Services to Retail Customers
Summary: According to CoinDesk, RAKBANK, one of the oldest banks in the UAE, has partnered with the cryptocurrency platform Bitpanda to become the first traditional bank in the UAE to offer cryptocurrency services to retail customers. Users can now buy, sell, and exchange cryptocurrencies through RAKBANK's mobile banking app, with transactions settled directly in Emirati Dirham ...
According to CoinDesk, RAKBANK, one of the oldest banks in the UAE, has partnered with the cryptocurrency platform Bitpanda to become the first traditional bank in the UAE to offer cryptocurrency services to retail customers. Users can now buy, sell, and exchange cryptocurrencies through RAKBANK's mobile banking app, with transactions settled directly in Emirati Dirham (AED) to avoid exchange rate fees when using USD or EUR.
This service is executed through Bitpanda's Dubai-regulated subsidiary, Bitpanda Broker MENA DMCC, with funds deducted directly from savings or current accounts without the need to transfer to a third-party cryptocurrency exchange platform.
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Link: RAKBANK in UAE Partners with Bitpanda to Offer Cryptocurrency Services to Retail Customers [Copy]
