RAKBANK has announced the launch of its crypto brokerage service via its mobile app for retail customers, becoming the first conventional bank in the UAE to enable crypto trading services for its customers. With this new offering, RAKBANK customers can buy, sell, and swap cryptocurrencies by accessing Bitpanda’s crypto trading platform through RAKBANK’s mobile banking app. The platform is owned and operated by Bitpanda, to which RAKBANK facilitates the access. All transactions will take place in AED, eliminating foreign currency transfer fees and forex losses altogether. What’s more, transactions are executed directly from the customer’s RAKBANK current or savings account, avoiding the need for lengthy and inefficient processes to move money in and out of crypto exchanges. The transaction is fulfilled through Bitpanda’s platform. With this launch, RAKBANK will be providing its customers with seamless, fast, and efficient access to digital assets in a fully regulated way.