BipTap and Al Fardan Ventures Partner to Launch Global Digital Bank from Abu Dhabi

• The main goal of this new digital bank is to deliver secure, compliant fiat and crypto services to international customers
• No public details are available on the licensing but it is likely under Abu Dhabi Global Market or Dubai Financial Services Authority supervision
• Known for its crypto-on-ramp services, BipTap’s transition to a licensed digital bank would transform these offerings into a regulated, scalable model

BipTap (a UAE-based crypto-on-ramp solution) and Al Fardan Ventures (the investment division of the Al Fardan Group) signed an MoU (memorandum of understanding) to launch a global digital bank based in Abu Dhabi.

The main goal of this new digital bank is to deliver secure, compliant fiat and crypto services to international customers. This would include crypto-to-fiat on and off ramps, international payments, and DeFi and digital asset solutions.

No public details are available on the licensing, but since it’s in Abu Dhabi, it’s probably a part of the city’s and country’s push toward digital finance innovation and likely under ADGM (Abu Dhabi Global Market) or DFSA (Dubai Financial Services Authority) supervision.

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