UAE Islamic Banks Open Doors to Crypto as Ruya Launches Bitcoin Trading

• Ruya became the first Islamic bank to provide regulated and Shariah-compliant Bitcoin trading via its mobile app.
• The service operates on licensed infrastructure from Fuze, and all trading takes place within the regulatory oversight of the bank.

UAE Islamic Bank Ruya has launched the trading of bitcoin under regulation within its mobile banking platform, making the bank the first Islamic bank in the world to provide Shariah-compliant exposure to the asset. The feature was approved by its Shariah governance board and endorsed Bitcoin as part of the long-term wealth management approach.

The bank incorporated the service with its current oversight of investments. According to the announcement, this is to ensure that customers interact with Bitcoin through a monitored and legally supervised environment. The institution wants to attract users who want safe and compliant channels instead of offshore platforms. Market data included in Ruya’s disclosures points to surging regional demand, with Chainalysis identifying more than $30 billion flowing into the country’s crypto market over the past year.

Bitcoin Trading Under Full Oversight

Ruya built its trading capability with support from Fuze, a licensed UAE virtual-asset infrastructure provider. The company provides vital brokerage, liquidity, and settlement systems that reside within the bank’s regulatory perimeter.

Fuze’s backend tools integrate directly with standard reporting procedures, allowing the bank to record and audit every trade using its existing financial control systems. Ruya said that the setup supports anti-money laundering and customer verification requirements. Additionally, it enables virtual asset flows to align with existing risk management frameworks. Both organizations framed the collaboration as a big step towards secure and regulated digital-asset access in the UAE.

Momentum for digital-asset services keeps growing in the Gulf. UAE policymakers have increased oversight through the Securities and Commodities Authority and Dubai’s Virtual Assets Regulatory Authority. Providing financial institutions with more access to better avenues for offering compliant products. Banks across the region are also moving quickly to adapt to increased customer demand.

Bitcoin Regional Demand Drives Growth

The growing adoption across the UAE has opened an opportunity for banks to incorporate virtual assets into their wealth management strategies. Family offices and high-net-worth individuals have shown increasing interest in structured exposure to Bitcoin, matching formal governance rules. Its Shariah-approved structure fulfills those expectations, as well as retail users looking for supervised investment channels, Ruya said.

Bitcoin is the only virtual asset currently supported in the app, but the bank hopes to evaluate more as regulations change. Each candidate will be subject to a similar review process to confirm their alignment with Shariah standards and compliance controls. Ruya said its measured approach is one of long-term planning rather than rapid expansion.

The launch comes with an acceleration in crypto activities across the UAE. Chainalysis reported that overall inflows rose 42% and also saw growth in decentralized-finance participation, including strong growth in DEX volumes. 

Financial institutions are responding fast. Mashreq Capital recently launched BITMAC, a mutual fund based in DIFC, that provides exposure to equities, fixed income, gold, and Bitcoin ETFs. Banks such as RAK Bank and Liv Bank have also implemented access to crypto trading to their customers through partnerships with external trading exchanges, demonstrating the competition in the sector.