- Ruya now offers Sharia-reviewed Bitcoin trading directly inside its mobile app.
- UAE crypto inflows rose 42% to over $30B, lifting demand for regulated access options.
- DeFi and DEX activity in the UAE grew sharply under clearer national regulations.
Ruya, the UAE’s digital-first Islamic bank, has begun offering Bitcoin trading directly inside its mobile app after forming a partnership with regulated virtual asset provider Fuze. The move gives customers the ability to buy and sell Bitcoin under a Sharia framework, something no other Islamic bank has attempted at this scale.
Ruya: A New Path for Islamic Finance and Digital Asset Access
Based in Ajman, Ruya has been positioning itself as a modern Islamic bank, but the introduction of Bitcoin through its own app marks an entirely different step. The bank said the feature sits within a wider investment offering meant for long-term planning rather than short bursts of speculation.
Every part of the product is reviewed by Ruya’s Shari’ah supervision committee, giving it formal compliance under Islamic banking rules. Christoph Koster, the bank’s chief executive, said the goal was straightforward: offer a digital investment option that fits with Islamic values and give customers a sense of clarity when they choose to take part in the cryptocurrency market.
He described the launch as an effort to bring responsible access to a sector that often moves faster than most retail investors can follow. The UAE’s regulatory environment has made this possible.
Agencies such as the Securities and Commodities Authority and Dubai’s Virtual Assets Regulatory Authority have been writing detailed rules around custody, licensing, and market conduct, guardrails that many banks say were necessary before entering the sector.
UAE Crypto Activity Surges as Regulated Services Expand
Figures from Chainalysis’ 2024 Geography of Crypto Report show the country is already one of the region’s busiest markets. Between July 2023 and June 2024, the UAE logged more than US$30 billion in crypto inflows, a rise of 42 percent compared with the year before.
The report also notes that decentralized finance has taken hold. DeFi services received 74 percent more value than the previous year, and decentralized exchange flows almost doubled, from about US$6 billion to more than US$11.3 billion. Analysts link most of this activity to the UAE’s early effort to build clear and predictable rules.
Fuze, Ruya’s partner on the new service, builds the infrastructure that supports virtual asset transactions. Its CEO, Mohammed Ali Yusuf, said the joint effort brings together the operational standards of Islamic banking with the technical foundations of the digital asset industry.
A Responsible Investing Model, Not a Trading Platform
Ruya made a point of distancing the service from high-frequency trading or short-term speculation. The bank said the product is structured for long-term wealth building, with fees that undercut many crypto platforms in the region.
Users receive explanations inside the app, and Ruya plans to add webinars and customer support for those who want a clearer picture before buying. Koster repeated that the bank aimed to keep the service rooted in responsible behavior.
The design, he said, places governance and transparency ahead of trading speed or volume.
Broader Industry Momentum Signals System-Level Adoption
Ruya is not the only financial institution stepping into digital assets, although it is the first to do so with a Sharia lens. Others, like Mashreq Capital, launched BITMAC, a fund that includes exposure to Bitcoin ETFs. Similarly, RAK Bank and Liv Bank have previously teamed up with exchanges to let their customers access crypto markets.
These developments suggest a shift that goes beyond early experimentation. Banks are beginning to fold digital assets into traditional systems rather than keeping them on the fringe. Ruya’s approach carries added weight because Islamic banking plays a central role in the Gulf region, and its model could influence how neighboring states handle demand for regulated crypto access.
With inflows rising and rules continuing to mature, Ruya’s launch signals that digital assets are becoming part of the UAE’s broader financial structure, not as a trend, but as a regulated investment option supported by both technology and faith-based governance.
