🇦🇪 Historic First: UAE’s Rakbank Rolls Out Crypto Trading for Retail Users

[lingriiddd]

Major milestone for the Middle East crypto scene! Rakbank (aka National Bank of Ras Al Khaimah) just became the first traditional bank in the UAE to launch retail crypto trading — directly through its mobile banking app. No third-party exchanges, no foreign currency conversions — just clean, in-app crypto trades powered by Bitpanda.
🧾 What’s the deal?

✅ Buy, sell, and swap crypto directly from your AED (dirham) account.

✅ Fully regulated under Dubai’s VARA.

✅ Infrastructure handled by Bitpanda Broker MENA DMCC.

❌ No need to send funds to external exchanges or pay FX fees.

And yes, that includes custody and execution right through Bitpanda’s institutional-grade platform — the same one used by Deutsche Bank, N26, etc.
Why this matters:

This isn’t just another fintech app. This is a government-owned, conventional bank going full throttle on crypto integration.

"We are proud to be the first conventional bank in the UAE to enable simple, secure, and regulated access to a world-class digital assets platform.”
— Raheel Ahmed, Rakbank CEO

At launch, the feature is invite-only, but a full rollout is on the horizon. And this could be a serious unlock moment for UAE’s growing crypto-curious population.
🧠 TL;DR:

First UAE bank to integrate crypto for the masses

No FX. No fund transfers. No exchange juggling.

Direct AED-to-crypto trading. Regulated. In-app.

Bigger picture: UAE is all in on crypto

With:

VARA pushing clear regulation,

Ripple’s RLUSD getting regulatory thumbs-up, and

600+ crypto firms now operating in Dubai’s DMCC free zone…

…it’s obvious the UAE is not just keeping up with crypto adoption — it’s trying to lead it.

What do you think? Will this spark a trend among other regional banks? Would you use a bank-integrated crypto service over a centralized exchange?

Let’s discuss