The partnership aims to provide UAE residents with a secure and regulated platform to manage and trade digital assets. This marks Bitpanda’s first major venture into the Middle Eastern market.
The collaboration is currently pending approval from the Central Bank of the UAE (CBUAE) and the Virtual Assets Regulatory Authority (VARA). Once approved, RAKBANK plans to enable its customers to explore various digital asset use cases, including asset management and payment options. The partnership is designed to fill the gap in the market for a trustworthy and regulated banking platform to deal in digital assets. By merging their expertise, RAKBANK and Bitpanda aim to revolutionize the traditional financial landscape, enabling customers to manage their finances more efficiently and securely.
