RAKBANK & Bitpanda Launch AED Trading for BTC, ETH, and USDT – Middle East Crypto Adoption Heats Up

Dubai’s RAKBANK just cut traditional finance out of the equation—partnering with Bitpanda to offer direct AED trading for Bitcoin, Ethereum, and Tether.

No more USD conversions, no extra spreads. Just on-ramps for the region’s crypto-hungry investors.

Why This Matters

The UAE’s playing the long game. With Dubai’s Virtual Assets Regulatory Authority (VARA) already greenlighting giants like Binance, this move signals deeper institutional embrace—even as European banks still treat crypto like a rogue asset class.

The Cynical Take

Banks love ‘innovation’ when it means new revenue streams. Watch how fast AED liquidity pools grow once they start skimming fees on every trade.

Bottom line? The petrodollar’s old guard is hedging its bets—one blockchain settlement at a time.

TLDR

• RAKBANK app now offers AED-based crypto trades with Bitpanda’s secure support.
• Buy, sell, and swap Bitcoin, Ethereum, and USDT via RAKBANK’s mobile app.
• RAKBANK launches UAE’s first bank-led crypto trading through mobile banking.
• No FX fees: RAKBANK enables AED crypto trading with full compliance via Bitpanda.
• RAKBANK simplifies crypto with in-app AED trading for BTC, ETH, and USDT.

RAKBANK has introduced a crypto brokerage feature through its mobile app, making it the first UAE bank. Customers can now buy, sell, and swap cryptocurrencies using their existing AED current or savings accounts. The move eliminates foreign exchange fees and simplifies access to digital assets.

🚨 RAKBANK has become the 1st bank in the UAE to offer crypto services to retail customers, allowing anybody to trade Bitcoin, $ETH, solana & $XRP in AED pairs. pic.twitter.com/X3J85I58Ep

— ALLINCRYPTO (@RealAllinCrypto) July 29, 2025

This initiative is powered by a partnership with Bitpanda, a regulated global digital asset provider with a VARA license in Dubai. RAKBANK’s integration with Bitpanda ensures a fully compliant, secure environment tailored for local users. The service is currently invitation-only but will expand to a wider audience in the coming months.

The bank connects users directly to Bitpanda’s infrastructure without requiring external wallets or complex setups. Transactions are executed in AED, which avoids unnecessary currency conversion charges and delays. The streamlined setup reflects RAKBANK’s aim to offer a more efficient financial experience.

Bitcoin Access Through a Regulated Banking Channel

Through the app, users can now access Bitcoin and other cryptocurrencies without relying on third-party platforms. RAKBANK ensures all Bitcoin transactions occur within a licensed environment through its partner Bitpanda. This approach provides users with a familiar and secure banking interface for accessing Bitcoin.

The bank’s mobile app now serves as a single gateway for account management and crypto transactions. All actions, including bitcoin trades, are conducted in AED and settled instantly through linked bank accounts. This process brings crypto trading closer to everyday financial services.

RAKBANK’s entry into the digital asset space demonstrates its shift toward user-centric digital banking solutions. By integrating Bitcoin into its platform, the bank meets growing demand for regulated crypto access in the UAE. This offering sets a new standard for conventional banks in the region.

Ethereum Now Accessible via RAKBANK’s Digital App

Users can also trade ethereum directly within the RAKBANK app, using the same straightforward process as for Bitcoin. All Ethereum transactions are routed through Bitpanda’s secure trading platform and settled in AED. The integration allows users to avoid external crypto exchanges and third-party platforms.

RAKBANK’s Ethereum access strengthens its digital product range, catering to users looking for regulated entry into crypto markets. With seamless onboarding and direct account integration, Ethereum trading becomes as easy as regular mobile banking. The bank reinforces trust by keeping all activity under one digital roof.

This offering highlights the bank’s commitment to making digital assets accessible to the wider UAE population. Ethereum joins a growing list of available cryptocurrencies, all supported by Bitpanda’s regulated framework. RAKBANK positions itself as a tech-forward financial institution with practical digital solutions.

USDT Support Expands RAKBANK’s Crypto Offering

RAKBANK has included Tether (USDT) in its crypto service lineup, further expanding digital asset options. Users can buy, sell, or swap USDT from their AED accounts without dealing with foreign currencies. This ensures fast and reliable stablecoin access within a trusted local banking framework.

Bitpanda’s infrastructure enables secure USDT transactions while adhering to the UAE’s regulatory guidelines. Customers benefit from the convenience of in-app trading with the reassurance of compliance and local currency settlement. The integration brings efficiency and safety to stablecoin usage.

Adding USDT reflects RAKBANK’s focus on practicality and customer needs in digital asset adoption. With more coins expected in future updates, the bank continues to evolve its offerings. This positions RAKBANK as a pioneer in combining conventional banking with modern digital asset solutions.