RAKBANK becomes the 1st banking partner of RAK Digital Assets Oasis

By Shilpa Annie Joseph, Official Reporter
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RAK Digital Assets Oasis (RAK DAO), the world’s first and only free zone dedicated to global digital and virtual assets companies, has signed a Memorandum of Understanding (MoU) with RAKBANK, a leading regional bank, and financial institution, intending to reshape banking standards and accessibility in the Web3 sector.

This historic partnership establishes RAKBANK as RAK DAO’s first banking partner, providing banking services and expediting bank account opening processes for companies operating in RAK’s Digital Assets Oasis.

The RAK DAO and RAKBANK partnership marks a significant milestone towards Web3 innovation across industries, promising to disrupt traditional business models and unlock the full potential of digital assets.

Raheel Ahmed
Raheel Ahmed

“At RAKBANK, we are proud to stand as the pioneering partner in inaugurating the RAK Digital Assets Oasis. As we firmly believe in the boundless potential of Web3 technology to revolutionize the financial realm, this partnership allows us to continue our digital transformation journey with the support of cutting-edge technology. Our ultimate goal remains to deliver an awesome customer experience.”

With this exciting early-stage collaboration, both parties look forward to setting the tone for all Web3 companies aiming to imagine, create, execute, and make an impact.

Dr. Sameer Al Ansari, CEO of RAK DAO, said that, “We are delighted to welcome RAKBANK as our first banking partner to operate within the RAK DAO Free Zone. Together, we will pave the way for a new era of Web3 innovation, driving the transformation of the financial industry and propelling the growth of virtual assets companies. Our shared vision and dedication to progress will unlock endless possibilities and redefine the way businesses and individuals engage with digital assets.”

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