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UAE's Ruya becomes the first Islamic bank to offer Bitcoin trading
According to TechFlow, on December 8, as reported by Cryptopolitan, UAE Islamic bank ruya has partnered with digital asset infrastructure provider Fuze to become the first Islamic bank to allow customers to buy and sell Bitcoin via its mobile app. ruya ensures all Bitcoin investments are fully compliant with Sharia law, providing customers with secure and compliant digital asset services. According to the Chainalysis 2024 Crypto Geography Report, the UAE saw over $30 billion in cryptocurrency inflows from July 2023 to June 2024, a year-on-year increase of 42%. Previously, UAE’s Mashreq Capital launched the multi-asset investment fund BITMAC, which includes a Bitcoin ETF, and RAK Bank and Liv Bank have also started offering cryptocurrency trading services.