Crypto Friendly Banks in the UAE

Dropping massive value to make your crypto journey in UAE an awesome experience

💡List of crypto-friendly banks in the UAE 🇦🇪

Big “thank you” to Zana Jablan Musa for the support and find below the crypto-friendly banks: 👇

Commercial Bank of Dubai
Emirates NBD
Zand
Mashreq
RAKBANK

The above mentioned banks can open corporate bank accounts for Virtual Asset Service Providers (VASPs) with Virtual Assets Regulatory Authority (VARA) initial approval.

For custody & client accounts, crypto companies need a No Objection Certificate (NOC) from the Central Bank.

The NOC can be obtained after receiving a Full Market Product license, which is the final stage of the regulatory process.

Additionally, I want to mention that both AMINA Bank and Sygnum Bank have Abu Dhabi Global Market (ADGM) licensed subsidiaries in Abu Dhabi.

Finally, I had very positive experiences with Wio Bank.

An alternative setup to banks favorable to crypto-native companies is using a regulated custodian that can provide access to AED via OTC brokers.

One such example is Tungsten Custody in conjunction with Fuze.

As local players are both regulated by ADGM & VARA, they can provide the setup needed for newcomers and established players looking to get into the digital assets ecosystem.

Like and/or comment below if you need help with an intro to the crypto-friendly banks listed above.

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