A new partnership between the National Bank of Ras Al Khaimah (RAKBANK), a major UAE bank with a presence in the digital assets space, and Bitpanda Technology Solutions, the digital assets infrastructure provider, has been announced to give RAKBANK customers better management over their digital assets.
This will be made possible through a new RAKBANK platform, subject to approval from the Central Bank of the UAE. This will enable users to pursue various digital asset use cases.
Dongjun “DJ” Choi, group chief customer officer of RAKBANK
Dongjun “DJ” Choi, group chief customer officer of RAKBANK commented: “We believe digital assets represent one of the future ways for customers to manage their finances more efficiently and securely. This partnership is poised to fill the gap in the market for a trustworthy and regulated banking platform to deal in digital assets.
“By merging our expertise, we aim to revolutionize the traditional financial landscape for the benefit of our customers, enabling them to explore a broader range of digital assets opportunities.”
The partnership between RAKBANK and Bitpanda Technology Solutions represents growth in the digital assets sector in the UAE. Furthermore, it will allow banks to participate in the virtual asset economy. This will be possible without the need to develop their own in-house virtual asset capabilities.
Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions
Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions added: “RAKBANK has a long history of pioneering crypto innovation in the UAE, and we want to support their ambitions. Bitpanda Technology Solutions is fully modular, enabling us to tailor products to our partners’ needs. This partnership exemplifies the importance of that flexibility. Together, we will transform crypto access for millions in the UAE and lay the groundwork for future innovation.”
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