Bitcoin News Today: RAKBANK and Bitpanda Launch UAE’s First Regulated Retail Crypto Trading in AED

RAKBANK and Bitpanda have introduced the United Arab Emirates’ first regulated retail cryptocurrency trading service, enabling customers to transact in digital assets using UAE Dirhams (AED) through the RAKBANK mobile app. The initiative, confirmed by multiple reports, marks RAKBANK as the UAE’s first traditional bank to integrate crypto services into its offerings, leveraging Bitpanda’s technology platform under Dubai’s Virtual Assets Regulatory Authority (VARA) framework [4][5]. The service allows users to buy, sell, and swap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and XRP directly within the app, eliminating the need for currency conversion and third-party exchanges [6]. Transactions are settled in AED, reducing forex fees and simplifying the process for retail investors [1][2].

The collaboration between the UAE-based bank and the European-regulated digital asset platform is currently available by invitation, operating through a seamless interface within the RAKBANK app. Users can execute trades from existing accounts, bypassing the complexities of cross-border transactions [6]. Bitpanda’s “Broker MENA” entity, regulated under VARA, facilitates the service, ensuring compliance with local regulations [7]. Raheel Ahmed, RAKBANK’s Group CEO, highlighted the initiative’s alignment with the bank’s vision to provide a “more seamless crypto journey” for UAE customers, emphasizing efficiency and accessibility [8].

The partnership reflects a strategic alignment between traditional banking infrastructure and digital asset innovation. By anchoring trades to the UAE’s local currency, RAKBANK and Bitpanda address key barriers such as currency volatility and transaction costs, which have historically limited retail participation in crypto markets [9]. Analysts suggest this approach could accelerate mainstream adoption in the region, particularly as regulatory clarity improves [9]. The initial rollout targets high-net-worth clients, with broader access planned for the coming months [10].

The launch underscores the UAE’s growing role in global crypto adoption. Regulated services like this may attract foreign investment while aligning with the country’s broader financial technology ambitions. RAKBANK’s initiative also highlights the importance of partnerships between banks and fintechs in expanding digital asset access, a trend observed in other markets but now formalized in a major Gulf jurisdiction [1][2][5].

Source: [1] Cointelegraph (https://cointelegraph.com/news/rakbank-uae-first-bank-crypto-trading-retail), [2] AInvest (https://www.ainvest.com/news/rakbank-launches-uae-regulated-crypto-trading-service-bitpanda-partnership-2507/), [3] FF (https://ffnews.com/newsarticle/cryptocurrency/rakbank-crypto-trading-launch/), [4] Crowdfund (https://www.crowdfundinsider.com/2025/07/247024-bitpanda-technology-solutions-assists-rakbank-with-offering-crypto-brokerage-services-in-the-uae/), [5] The Cryptobasic (https://thecryptobasic.com/2025/07/29/uaes-rakbank-rolls-out-crypto-trading-for-retail-clients-featuring-xrp-bitcoin-and-others/), [6] Gulf News (https://gulfnews.com/business/banking/rak-becomes-first-traditional-uae-bank-to-offer-crypto-trading-for-retail-clients-1.500214857), [7] TradingView (https://www.tradingview.com/news/newsbtc:9d9e59216094b:0-rakbank-introduces-aed-based-crypto-trading-for-uae-clients/), [8] Bitcoin.com (https://news.bitcoin.com/rakbank-partners-bitpanda-to-launch-crypto-brokerage-service-for-retail-customers-in-the-uae/), [9] CryptoNinjas (https://www.cryptoninjas.net/news/rakbank-becomes-the-first-traditional-uae-bank-to-launch-regulated-crypto-trading/), [10] RAKBANK (https://www.rakbank.ae/en/everyday-banking/rakbank-for-you/crypto-wait-list).