RAKBANK has made history as the first conventional bank in the UAE to offer retail crypto trading through its mobile app, utilizing Bitpanda's technology. This service enables customers to buy, sell, and swap cryptocurrencies directly using their UAE dirham accounts, eliminating the need for transfers to external exchanges or currency conversions, thus avoiding foreign exchange fees. The crypto trading service is currently available by invitation only, with plans for a wider launch in the coming months. Ahmed, a spokesperson from the bank, emphasized the importance of providing customers with a regulated and efficient platform for digital assets. The introduction of this service aligns with the UAE's ambition to establish itself as a hub for blockchain and cryptocurrency projects, enhancing the digital finance landscape in the region.

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