RAKBANK Partners with Bitpanda to Advance Digital Asset Management in UAE

The National Bank of Ras Al Khaimah (RAKBANK), a prominent UAE bank known for its leadership in digital assets, has announced a strategic partnership with Bitpanda Technology Solutions, which is renowned for its scalable digital asset infrastructure.

This collaboration aims to introduce a robust platform that will enable UAE residents to manage digital assets seamlessly.

Pending approval from the Central Bank of the UAE (CBUAE), the new platform will offer RAKBANK customers a comprehensive range of digital asset services, making it one of the most extensive offerings available in the UAE market. In fact, the partnership positions both RAKBANK and Bitpanda at the forefront of digital financial innovation in the region, allowing banks to engage in the virtual asset economy without developing in-house capabilities.

Dongjun “DJ” Choi, Group Chief Customer Officer of RAKBANK, emphasized the significance of this collaboration: “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, highlighted the partnership’s potential: “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.”