XRP Records Another Win With Government-owned Bank in UAE

RAKBAN, a government-owned bank in the United Arab Emirates (UAE), has become the first bank in the country to allow retail clients to trade cryptocurrencies directly in UAE Dirham. The financial institution now permits customers to buy and sell Bitcoin , Ethereum, Solana, and XRP using AED, marking a notable development in regional banking and digital asset accessibility. The new development indicates that RAKBANK is facilitating trading in the four major cryptocurrencies via its platform, denominating transactions in Emirati Dirhams. The framework simplifies the trading process for retail customers by avoiding conversion to external currencies, such as US dollars or euros, thereby eliminating associated exchange rate costs. The announcement makes clear this service operates within the bank’s regulated environment and is open to retail users. RAKBANK partnered with Bitpanda, a Vienna-based crypto exchange, through its Dubai‑regulated subsidiary Bitpanda Broker MENA DMCC. The platform operates within the UAE’s jurisdiction, and customer funds are debited directly from savings or current accounts without needing to be transferred to external crypto exchange accounts. RAKBANK is thus distinguished as the first conventional UAE lender to integrate crypto trading services into its retail offering via its mobile banking application. RAKBANK CEO Raheel Ahmed affirmed the service is designed to deliver an efficient, seamless, and fully regulated crypto trading experience in AED to users, starting on an invitation basis and expanding to a broader customer base in due course. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Quoted Commentary on the Announcement An X user identified as Gauss Research commented on the tweet, stating that this development is “another sign that crypto is becoming a regulated, bank‑grade asset class. The new cycle will be defined by integration, not speculation.” Gauss Research’s perspective frames the news as evidence of institutional legitimacy entering the digital assets sector, underlining a shift toward structural integration rather than speculative volatility. Another commenter under the handle ALTUcard observed that RAKBANK is entering the crypto space with substantial financial weight, adding that with approximately $24 billion in assets, the bank’s involvement sends a “massive signal for Middle East crypto.” ALTUcard further remarked that institutional fear of missing out is beginning, and anticipated that a wave of regional banks would follow RAKBANK’s lead. The integration of crypto trading into a mainstream bank’s retail offering reflects broader trends, as UAE authorities continue to adopt frameworks to formalize digital asset activity. The fact that RAKBANK allows trade directly in AED is particularly relevant to domestic residents, as it simplifies access and maintains transactions within national currency rails. This development is likely to represent a turning point in the integration of digital assets into conventional banking systems in the Middle East. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRP Records Another Win With Government-owned Bank in UAE appeared first on Times Tabloid .

Source: TimesTabloid