Digital bank ruya adds Shariah-compliant crypto trading assets to portfolio

ruya, a UAE-based digital Islamic bank, has partnered with Fuze, a UAE-licensed virtual-asset infrastructure provider to begin offering Bitcoin and other virtual assets to customers through its mobile application.

As reported by Zawya, Christoph Koster, ruya’s chief executive, said the bank aims to empower customers to participate in the digital economy sustainably and responsibly. He also added that all listed virtual assets meet the institution’s Shariah-compliance standards.  

The launch comes amid rapid growth in the UAE’s digital-asset sector. From July 2023 to June 2024, the country received more than $30 billion in virtual-asset inflows, a 42% increase that far outpaced the Middle East and North Africa average of 11.7%  according to industry data, as per Zawya.  

ruya said the crypto functionality will sit within its broader investment suite, which is designed to promote long-term, ethical wealth creation rather than short-term speculative trading.

Customer support for the new product will be available through community centres and hybrid call centres.