BipTap a global banking offering crypto and fiat banking services, has partnered UAE Al Fardan Ventures to launch an Abu Dhabi based Digital Bank BipTop.

BiTop offers complete solution integrating traditional banking with blockchain and cryptocurrency for using, managing and transferring crypto and fiat internationally using cards, offshore bank accounts, and wallets. The digital bank as per the press release will be both a wholesale and retail bank with B2B digital banking solutions.

The two parties are in the process of securing the required licenses to set up the operations in UAE.

As part of this development, the board has appointed Mr. Mohammed Ebrahim Al Fardan as Regional Managing Director, responsible for all Middle East operations and Global Technology Operations (GTO). Mr. Al Fardan brings decades of leadership in high-tech investments and innovation strategy, ensuring the digital bank will be positioned at the forefront of financial evolution.

Al Fardan noted that this is a significant partnership as it helps to reimaging global banking. He stated, “It aligns with our broader vision and upcoming investments in a global crypto liquidity platform and an AI-powered crypto trading ecosystem, which we plan to announce separately at the appropriate time.”

“This isn’t just a digital bank,” Jonathan Low shared. “It’s a financial revolution. By combining Abu Dhabi’s strategic location and Al Fardan Venture’s legacy in high-tech innovation and banking relationships all across the UAE and Middle East, with Biptap’s plug-and-play scalable infrastructure, we are democratizing banking access for the 21st century and beyond.”

Jonathan Low, CEO and Founder of Biptap, spearheaded the creation of the world’s first true Omni Banka modular, borderless system designed to be the ‘Airbnb of Banking,’ connecting users and businesses with the banks worldwide.

Already the UAE has several digital banks that are working in the crypto domain, including Zand Bank, Liv Bank, MBank, and Wio Bank. This announcement comes as the United States opens up its banking sector to crypto directly. The USA Federal Reserve Bank recently killed “Reputational Risk” rule that banks used to block crypto companies.

FED Chair Jerome Powell said, “Banks are perfectly able to serve crypto customers, as long as they manage the risks.”