• This breakthrough partnership brings together a major UAE bank that has been a leader in the digital assets sector, and a leading digital assets provider.
  • The partnership includes exclusivity regarding RAKBANK’s issuance of digital payments tokens, subject to CBUAE approval.

Dubai, United Arab Emirates – The National Bank of Ras Al Khaimah (“RAKBANK”), a major UAE bank that has been leading in the digital assets sector, has reached an agreement with Bitpanda Technology Solutions, a leading digital assets infrastructure provider, to provide a robust platform that will enable UAE residents to effortlessly manage digital assets.

When fully launched, RAKBANK customers will be able to pursue various digital assets use cases unlocking one of the most complete offerings available in the UAE market. This is however subject to CBUAE approval.

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 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 commented: “We believe 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 assets opportunities.”

Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions added: “RAKBANK has a long history of pioneering crypto innovation in the UAE, and 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.”

Bitpanda Technology Solutions stands as one of the most scalable digital assets 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.

ABOUT RAKBANK

RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE.

We’re a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX).

RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments.

With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.

For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000.

ABOUT BITPANDA TECHNOLOGY SOLUTIONS

Bitpanda Technology Solutions is one of the most scalable digital assets infrastructure providers in Europe and worldwide. The platform enables FinTechs, traditional banks, and online platforms to offer regulated trading, investment, and custody services for stocks/ETFs, cryptocurrencies, precious metals, and commodities. Partners can build their own offerings on an ISO 27001 certified and time-tested infrastructure. This fully modular platform allows for integration via a state-of-the-art API or directly via a white label solution.

Bitpanda Technology Solutions | LinkedIn

For more information, please contact:
Gonzalo Lamas, Head of Global Communications and PR at Bitpanda
Email: Gonzalo.Lamas@bitpanda.com
Bitpanda Technology Solutions | LinkedIn