thecryptobasic.com
BNB, the fifth biggest crypto closely associated with Binance, is now officially live for trading on RAKBANK’s mobile banking app.
Binance founder Changpeng Zhao (CZ) confirmed today that BNB trading is now live on RAKBANK’s crypto platform. The update surfaced when Arabian Web3 YouTuber Ghazi posted the news on X, which CZ later retweeted to his millions of followers.
This makes RAKBANK the first traditional bank in the UAE where retail customers can trade BNB directly from their local bank accounts.
Partnership With Bitpanda
The new trading function is powered by Austrian fintech Bitpanda. Transactions are executed through Bitpanda Broker MENA DMCC, a Dubai-based entity licensed by the Virtual Assets Regulatory Authority (VARA).
Bitpanda also offers custody for customer assets, ensuring secure and regulated management of digital holdings.
At launch, RAKBANK CEO Raheel Ahmed stated that the service reflects the bank’s commitment to secure, simple, and regulated access to the cryptocurrency market.
Bitpanda deputy CEO Lukas Enzersdorfer-Konrad described the partnership as a milestone for the Middle East. He noted that Bitpanda already works with several European banks, including Deutsche Bank and N26. This, he added, makes RAKBANK’s move a clear sign of growing global momentum in regulated crypto services.
Limited Rollout Phase
Currently, RAKBANK’s crypto service remains available on an invitation-only basis. A full rollout to all retail clients is in the coming months as the bank monitors demand and customer feedback.
BNB Price Action
The activation of BNB trading comes shortly after the token reached a new all-time high of $882.59 earlier this week. As of the latest update, BNB trades at around $875, giving it a market capitalization of $122 billion. This cements its position as the fifth-largest cryptocurrency globally.