1. RAKBANK and Bitpanda Partnership
2. What is RAK Digital Assets Oasis
3. Future Prospects of Digital Assets in UAE

The National Bank of Ras Al Khaimah (RAKBANK) has announced a strategic partnership with Bitpanda Technology Solutions, aimed at launching a new digital asset management platform for residents of the United Arab Emirates (UAE).

RAKBANK and Bitpanda Partnership

RAKBANK has announced a strategic partnership with Bitpanda Technology Solutions to create a new digital asset management platform. The planned initiative, pending approval from the Central Bank of the UAE, is expected to offer comprehensive digital asset services in the region. Dongjun DJ Choi, Group Chief Customer Officer of RAKBANK, emphasized the future potential of digital assets for financial management.

What is RAK Digital Assets Oasis

This move aligns with RAKBANK’s recent efforts to establish itself as a hub for digital innovation, including the creation of the RAK Digital Assets Oasis (RAK DAO), a free-trade zone for crypto and blockchain technologies.

Future Prospects of Digital Assets in UAE

Bitpanda Technology Solutions will simplify RAKBANK’s digital asset needs, avoiding the complexities of in-house development. Lukas Enzersdorfer-Konrad, CEO of Bitpanda, expressed enthusiasm about supporting RAKBANK’s ambitions and transforming crypto access for millions in the UAE. This collaboration underscores the UAE’s growing acceptance of digital assets, including recent legal recognition of crypto in employment contracts. The new platform promises to set a foundation for future advancements in digital finance within the region.

The partnership between RAKBANK and Bitpanda represents a significant step forward for the development of digital assets in the UAE. This collaboration promises to not only enhance access to cryptocurrencies but also drive innovation in fintech.