Binance founder Changpeng Zhao (CZ) announced that RAKBANK, one of the leading financial institutions in the United Arab Emirates, has officially launched cryptocurrency trading services with BNB among the top eight traded digital assets. This development is considered a significant milestone for crypto adoption in the region and Binance's global impact.
RAKBANK now allows customers to buy, sell, and hold BNB directly through its mobile banking app, integrating cryptocurrency trading with traditional banking services on a single platform. The bank supports several leading crypto assets alongside BNB, including Bitcoin, Ethereum, and Solana, all tradable directly with AED (UAE Dirham).
In his announcement, CZ highlighted the UAE's investments in the digital asset ecosystem, stating that RAKBANK's move is a significant step toward establishing the region as a "global crypto hub." He emphasized that BNB's inclusion on such a prestigious bank's list will increase institutional adoption of the token.
The integration results from RAKBANK's collaboration with Bitpanda, a regulated digital asset provider in the MENA region. The bank ensures seamless onboarding via its Emirates ID-based KYC process, offering both accessibility and regulatory compliance.
BNB's listing coincides with the token reaching a record high of $880, representing a 4.36% increase in the past 24 hours. The coin's market capitalization currently stands at $122.51 billion, reflecting strong demand despite a 19% dip in 24-hour trading volume.
Experts say the UAE's support for crypto through its financial institutions will strengthen confidence among both individual and institutional investors. RAKBANK's initiative sets a strong precedent for crypto integration into the banking sector in the Middle East and is expected to lead other financial institutions in the region to follow suit.