According to online reports, United Arab Emirates Rakbank has reached a partnership with digital asset infrastructure provider Bitpanda to launch cryptocurrency brokerage services through its mobile application. The bank became the first traditional bank in United Arab Emirates to provide cryptocurrency transactions to retail customers. Users can buy, sell and exchange cryptocurrency directly from Rakbank current or savings accounts through Dirham, eliminating foreign currency transfer fees. The service is currently only open to selected customers and will gradually expand its user base in the coming months.