RAKBANK has officially rolled out crypto trading services for its retail customers, becoming the first traditional bank in the UAE to do so. Powered by European fintech Bitpanda, the new feature is built directly into the RAKBANK app, making it easy for users to buy, sell, and hold digital assets, such as Bitcoin and Ethereum. No separate exchange account is needed.
A New Era of Embedded Crypto Services
The launch marks a major milestone in the evolution of embedded crypto trading, integrating digital asset functionality into traditional financial services. With this rollout, RAKBANK crypto users can now buy, sell, and hold cryptocurrencies inside the bank’s existing mobile app.
This means no more switching platforms, setting up wallets, or navigating complex exchanges. It’s crypto access made simple, targeting everyday users who may have been hesitant to explore digital assets on their own.
The RAKBANK–Bitpanda Partnership
The collaboration between RAKBANK and Bitpanda UAE is the result of a year-long effort to align legacy banking infrastructure with modern digital finance tools. The partnership was first announced in August 2024, and the fully operational trading service officially launched on July 29, 2025.
RAKBANK acts as the customer-facing gateway, while Bitpanda Technology Solutions provides the white-label crypto infrastructure powering the service. All crypto assets are held in secure custody under Bitpanda’s EU regulatory framework. RAKBANK does not hold or trade crypto directly, ensuring compliance with local laws and financial safeguards.
>>> Read more: Raiffeisen Integrates Bitpanda for Crypto Trading: European First
What Can Customers Actually Do?
With just a few taps inside the RAKBANK app, retail customers can:
- Buy and sell major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and others.
- Access real-time market prices and execute trades instantly.
- Hold crypto securely with Bitpanda’s EU-licensed custodial services.
This initiative brings crypto for retail customers into the mainstream. It eliminates friction for newcomers while reinforcing trust by embedding digital asset access within a familiar banking environment.
Why It Matters for the UAE and the Region
This launch positions RAKBANK at the forefront of crypto banking innovation in the Middle East. It reflects the UAE’s broader commitment to becoming a regulated crypto hub, with clear frameworks that enable safe and responsible adoption.
It also highlights a shift in consumer expectations. As digital natives demand more functionality from their banks, embedded features like crypto trading will likely become the norm, not the exception.
Bitpanda’s Regional Playbook
For Bitpanda, the launch is equally strategic. The Austria-based firm sees the UAE as a key market in its expansion roadmap. Therefore, it is leveraging its Bitpanda Technology Solutions arm to scale its white-label crypto infrastructure across other financial institutions in the region.
By powering RAKBANK crypto services, Bitpanda not only proves the viability of its platform. It also opens the door to more bank crypto partnerships across the Gulf.
Looking Ahead
The move raises important questions: Will other UAE banks follow RAKBANK’s lead? Could we soon see embedded access to tokenized securities, stablecoins, or even DeFi applications?
As the lines between banking and digital assets continue to blur, this rollout could mark the beginning of a broader wave of retail crypto adoption via institutional channels.
>>> Read more: Bitpanda UK Expands with FCA Approval
RAKBANK’s partnership with Bitpanda marks a significant inflection point in the evolution of consumer finance, in the UAE and globally. By embedding crypto services directly into its app, the bank is not only offering convenience. It is also redefining what everyday banking looks like in a digital-first economy.
For users in the UAE, crypto just became as easy as checking your balance, and that’s a breakthrough worth noting.
Readers’ frequently asked questions
Can I transfer the crypto I buy on RAKBANK’s app to an external wallet?
No, not at this stage. Crypto bought through the RAKBANK app is held in custody by Bitpanda and cannot be withdrawn to external wallets. This setup prioritizes regulatory compliance and user security.
Does RAKBANK hold a crypto license in the UAE?
No. RAKBANK does not hold or trade crypto directly and is not licensed as a virtual asset provider in the UAE. Instead, it partners with Bitpanda, which is fully regulated in the European Union and handles all crypto-related operations.
Which cryptocurrencies are available for trading in the RAKBANK app?
As of launch, users can trade leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and several others. The selection may expand over time, depending on Bitpanda’s support and regulatory alignment.
What Is In It For You? Action items you might want to consider
Explore crypto services from your existing bank
If you’re a retail customer in the UAE, check whether your bank is planning to offer crypto trading through embedded services. RAKBANK’s move could trigger similar offerings from competitors.
Test crypto trading inside traditional finance apps
Try using embedded crypto features if your bank offers them. These platforms may offer a smoother and more secure entry point into digital assets compared to setting up accounts on crypto-native exchanges.
Watch for Bitpanda’s expansion across the region
If you’re an investor or fintech professional, track Bitpanda Technology Solutions’ white-label deals in the Gulf. Their UAE launch could be a model for similar partnerships in Saudi Arabia, Qatar, or beyond.
