Bitpanda partners with RAKBANK to provide digital asset infrastructure
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Bitpanda partners with RAKBANK to provide digital asset infrastructure 23 August 2024UAE Reporter: Clelia Frondaroli
Image: Kertu/stock.adobe.com
Bitpanda Technology Solutions (BTS) has finalised its first agreement with The National Bank of Ras Al Khaimah (RAKBANK), after the firm's recent expansion to the UAE.
The partnership aims to offer UAE residents a secure platform to manage and trade digital assets, and will provide clients with exclusive access to RAKBANK’s digital payment tokens.
The companies say that the partnership will position Bitpanda and RAKBANK at the forefront of the UAE’s digital financial expansion and will provide banks accessible ways to participate in the virtual asset economy.
Group chief customer officer of RAKBANK, Dongjun Choi, comments: “This partnership is poised to fill the gap in the market for a trustworthy and regulated banking platform to provide access to digital assets. By merging our expertise, we aim to revolutionise the traditional financial landscape for the benefit of our customers.”
Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions, adds: “Alongside RAKBANK, we will transform crypto access for millions in the UAE and lay the groundwork for future innovation.”
The provision of services will be subject to approval from the Central Bank of the UAE (CBUAE) and the Virtual Assets Regulatory Authority (VARA).
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Image: Kertu/stock.adobe.com 