Binance Coin (BNB) Now Accessible in UAE's Leading Bank

In a significant development for the cryptocurrency market, Binance's BNB token is now supported for trading on RAKBANK, a prominent banking entity in the United Arab Emirates (UAE). The announcement was made by Changpeng Zhao, the founder and former CEO of Binance.

Yesterday, Aug. 21, 2025, the BNB cryptocurrency price set a new record high over $882, surpassing its previous all-time high of $880 at the time of the announcement. This growth is a testament to the increasing popularity of BNB, which serves as the tokenomic backbone of Binance's ecosystem and is currently the fifth largest cryptocurrency by market cap, with a value exceeding $120 billion.

RAKBANK, headquartered in the UAE, was launched in 1976 and is majority-owned by the government of Ras Al-Khaimah emirate. The bank's stocks are listed on the Abu Dhabi Securities Exchange (ADX), just like Ethereum (ETH), which has experienced a 6.7% upsurge in the cryptocurrencies market.

Residents of UAE can now trade cryptocurrencies in pairs with AED on RAKBANK, eliminating the need to convert assets into USD or EUR. The cryptocurrency trading services on RAKBANK are provided in partnership with Bitpanda, a MENA-regulated digital finance platform.

As of press time, RAKBANK offers its clients eight major cryptocurrencies for trading, including BNB, Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Chainlink (LINK), Tron (TRX), and Cardano (ADA). The platform also offers Sharia-compliant personal, wholesale, and business banking services via its Islamic banking branch RAKIslamic.

Registration for cryptocurrency trading on RAKBANK is available to users who have passed KYC checks and provided copies of their Emirates ID copies. Besides Changpeng Zhao and Bitpanda, the National Bank of Ras Al Khaimah (RAKBANK) itself is a key institution responsible for the BNB trading on its platform.

This move comes as the total market cap of the cryptocurrencies segment is up by 1.3% today, targeting the $4 trillion level. Solana (SOL) has also hit a $100 billion capitalization, closely following BNB. In the last 12 months, BNB has surged by almost 50%.

The National Bank of Ras Al-Khaimah, where Mohammad Omran Al Shamsi serves as CEO, was launched in 1976 and is majority-owned by the government of Ras Al-Khaimah emirate. This strategic partnership between Binance and RAKBANK is expected to further boost the adoption of cryptocurrencies in the UAE and the MENA region.