RAKBank Partners with Bitpanda to Offer Digital Asset Management Platform (Subject to CBUAE Approval)
CryptoNewsTerminal Staff19 Aug, 2024
RAKBank Partners with Bitpanda to Offer Digital Asset Management Platform (Subject to CBUAE Approval)
RAKBank, the UAE government-owned bank, has partnered with Austrian cryptocurrency exchange Bitpanda to launch a digital asset management platform for UAE residents. The platform will allow users to buy, sell, and store cryptocurrencies such as Bitcoin and Ethereum. However, it's important to note that the platform is still subject to the approval process of the Central Bank of the UAE (CBUAE) before its full launch. This means that the platform may not be available for use until the CBUAE has given its approval. RAKBank is one of the leading banks in the UAE, and this partnership with Bitpanda is a significant step forward in the development of the digital asset market in the country. Bitpanda is one of the largest cryptocurrency exchanges in Europe, and it has a strong track record of providing secure and reliable services to its customers. The partnership between RAKBank and Bitpanda is expected to make it easier for UAE residents to buy, sell, and store cryptocurrencies. This is likely to lead to increased adoption of cryptocurrencies in the country, and it could also help to legitimize the digital asset market.
