Expert in the field of international financial law Konstantin Kryvopust reports that the National Bank of Ras Al Khaimah (RAKBank), one of the largest banks in the UAE, has become the first bank in the country to enter into a partnership agreement with Bitpanda Technology Solutions. The partnership marks Bitpanda’s first foray into the UAE market, opening up digital asset opportunities for the bank.
As is noted in Bitpanda’s release, the crypto company will provide RAKBank with its advanced API-based infrastructure, fully secured and ISO 27001 certified. The technology platform will allow RAKBank to implement various scenarios for the use of digital assets, providing the bank’s clients with one of the most complete ranges of services available on the market.
RAKBank customers will be able to use the new services through the bank’s existing application.
Bitpanda and RAKBank also announced plans for an exclusive collaboration, which is expected to explore the possibility of issuing digital payment tokens. The companies are committed to exploring new ways to better integrate digital assets with the traditional financial ecosystem and unlock the benefits of these assets for people across the region.
Bitpanda has 9 years of trading experience, which it uses to create solutions for financial institutions. The company already works with several major banks and financial institutions in Europe, including Raiffeisen, LBBW, N26, Mambu, Plum and Hype. Bitpanda offers financial institutions the opportunity to launch their own trading platform within three months.
