The National Bank of Ras Al Khaimah (RAKBANK) has entered into a partnership with Bitpanda Technology Solutions, a prominent provider of digital assets infrastructure, to create a powerful platform that allows UAE residents to easily handle digital assets. Upon full deployment, RAKBANK customers will have access to a wide range of digital assets applications, offering one of the most comprehensive services in the UAE market, pending CBUAE approval. This collaboration places RAKBANK and Bitpanda at the vanguard of the digital financial revolution in the UAE, promoting expansion in the digital assets industry. It enables banks to engage in the virtual asset economy without the necessity of developing their own internal virtual asset competencies.
Dongjun “DJ” Choi, the Group Chief Customer Officer of RAKBANK, expressed: “We are convinced that digital assets are a key future method for customers to manage their finances more effectively and safely. This partnership is set to address the market gap for a reliable and regulated banking platform for digital asset transactions. By combining our strengths, we intend to transform the conventional financial sector to the advantage of our customers, allowing them to venture into a wider array of digital assets possibilities.” Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions, further added: “RAKBANK has a proven track record of leading crypto innovation in the UAE, and we are eager to assist in their endeavors. Bitpanda Technology Solutions is entirely modular, allowing us to customize products to meet our partners’ specific requirements. This partnership underscores the significance of such adaptability. Jointly, we will revolutionize crypto accessibility for millions in the UAE and establish a foundation for future advancements.”
