UAE to Launch New Digital Asset Management Platform
19.08.2024 22:00 1 min. read Alexander Stefanov
The National Bank of Ras Al Khaimah (RAKBANK) has joined forces with Bitpanda Technology Solutions to launch a new digital asset management platform for UAE residents.
This collaboration aims to introduce a regulated solution for handling digital assets, pending approval from the Central Bank of the UAE (CBUAE).
RAKBANK views digital assets as a key future trend in financial management, with Dongjun Choi, the bank’s chief customer officer, noting that the platform will enhance both efficiency and security for customers. The partnership will allow RAKBANK to leverage Bitpanda’s technology without developing its own infrastructure.
Bitpanda’s CEO, Lukas Enzersdorfer-Konrad, supports this initiative as part of ongoing crypto innovation in the UAE.
This development follows Ras Al Khaimah’s recent efforts to establish a free-trade zone for digital assets, and the launch of the RAK Digital Assets Oasis (RAK DAO), which focuses on blockchain and AI technologies.
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