UAE Islamic Bank Shatters Tradition: In-App Bitcoin Trading Goes Live

Dubai just rewrote the rulebook. A major UAE Islamic bank has flipped the script, launching direct Bitcoin trading inside its existing mobile app. No new platforms, no third-party gateways—just taps between checking balances and buying crypto.

The Seamless Shift

This isn't a tentative pilot or a segregated experiment. The bank integrated Bitcoin functionality directly into its core consumer application, signaling a full-throated embrace. Customers now access spot trading alongside their traditional savings and investment products, merging two worlds that were, until recently, ideological opposites.

Why This Cuts Through the Noise

The move bypasses the typical crypto onboarding gauntlet. No transferring funds to an external exchange, no worrying about counterparty risk with unregulated platforms. It's trust, wrapped in familiar branding, now extended to digital gold. For the institution, it’s a lucrative new revenue stream without the marketing cost of acquiring new users—they're already logged in.

A Regional Catalyst in Waiting

Watch the Gulf. One major player's move often triggers a domino effect as competitors scramble to retain depositors. This launch provides a regulatory blueprint for others, potentially accelerating mainstream adoption across the Middle East's financial hubs. The silent approval from local watchdogs speaks volumes about the shifting sands.

The finance jab? They spent decades building walls to keep risk out, only to install a digital drawbridge for its most volatile asset class. The future of banking isn't coming—it's already in the last app you downloaded.

UAE Islamic bank Ruya has partnered with Fuze to launch in-app Bitcoin trading, becoming the first Sharia-compliant bank in the country to offer direct BTC purchases. The move comes as crypto adoption in the UAE continues to grow rapidly. According to Chainalysis, the country recorded more than $30 billion in crypto inflows between July 2023 and June 2024, showing a strong 42% year-on-year increase.