DigiBank

What DigiBank does

DigiBank (legal name Al Bank Al Riqmi) is a digital banking platform founded in 2021 and headquartered in Jarablus, Syria. It bridges cryptocurrency holdings — primarily USDT, USDC, BTC, and ETH — with physical fiat cash across the MENA region through a network of more than 2,000 liquidity points (agents, branches, and exchange offices) in Syria, Iraq, Lebanon, Yemen, Sudan, and Egypt. The platform is licensed under U.S. Treasury General License 22 (GL-22) for humanitarian financial services and by the Jarablus Local Council under license number 1048, which uniquely positions it to serve populations excluded from conventional banking due to international sanctions.

The technology stack consists of a multi-network crypto wallet supporting TRC20, BEP20, ERC20, and Solana rails; a REST-based payment gateway API with Webhooks; an embeddable iframe payment widget; a white-label solution with sub-account and dispute management; spot, P2P, and OTC trading engines for over 500 cryptocurrencies; and AES-256 encryption with two-factor authentication and AML-aligned KYC. The product surface extends from a self-serve consumer mobile/web application (Android via Google Play and direct APK, plus web) to B2B merchant infrastructure.

DigiBank generates revenue through transaction fees: 0.5–2% on cross-border remittances, up to 1% on merchant payment-gateway transactions (both PayIn and Payout), undisclosed spreads on spot/P2P/OTC crypto trades, and agent-set fees on fiat cash deposits. The customer base spans individual migrants and refugees sending money home from Europe, North America, and the GCC; e-commerce and service merchants using the payment gateway; licensed humanitarian organizations disbursing payroll in sanctioned jurisdictions; and crypto traders using the OTC and P2P desks. Marketing is primarily community-driven via Telegram, Facebook, Instagram, TikTok, YouTube, and X, supplemented by SEO-optimized comparison content against Western Union and traditional banks.

Name

DigiBank

Legal name

البنك الرقمي (Al Bank Al Riqmi)

Website

https://digibankar.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

DigiBank is a Syrian-licensed digital banking platform bridging cryptocurrency with fiat cash across MENA, serving migrants, refugees, humanitarian organizations, and merchants through 2,000+ liquidity points under U.S. Treasury GL-22.

Ownership category

akta.pro rank

Product category

Cross-Border Remittance and Crypto-to-Fiat Payments

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro industry

PRIMARYFSADAIAD

Crypto Remittance & Cross-Border Money Transfer Providers

Financial & Insurance/Crypto & Digital Assets/Payments, Merchant Acquiring & Remittances (Crypto)

SECONDARYFSADAIAA

Crypto Payment Gateways & Checkout APIs

Financial & Insurance/Crypto & Digital Assets/Payments, Merchant Acquiring & Remittances (Crypto)

SECONDARYFSADAIAE

On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks

Financial & Insurance/Crypto & Digital Assets/Payments, Merchant Acquiring & Remittances (Crypto)

SECONDARYFSABAFAG

Crypto/Web3 Neobanks

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Digital/Challenger Banks (Neobanks)

SECONDARYBPAMAFAL

Crypto Payments & Stablecoin Settlement Platforms

Business & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking Platforms

SECONDARYFSAGAKAO

Crypto-Enabled Cross-Border Transfers & On/Off-Ramps

Financial & Insurance/Financial Technology (Fintech)/Remittance & Cross-Border Money Movement

Keywords

• Crypto-to-fiat remittance
• Cross-border money transfers
• Cryptocurrency trading platform
• Merchant payment gateway
• White label payments

Headquarters

HQ city

Jarablus (جرابلوس)

HQ country

Syria

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Transaction Fees on Money Transfers: DigiBank charges 0.5%–2% fees on cross-border money transfers, significantly lower than traditional remittance services (5–10%+). This is the primary revenue driver, enabled by crypto-to-fiat conversion and the liquidity point network.
2. Payment Gateway Fees: Merchants using the payment gateway pay competitive fees (not exceeding 1%) on each payment collected. Fees apply to both PayIn (collection) and Payout (distribution) flows.
3. Crypto Trading Fees: DigiBank earns trading fees on spot transactions, P2P trades, and OTC large-volume deals. Specific fee rates are not publicly disclosed but are described as competitive.
4. Fiat Cash Deposit Fees: Deposits at DigiBank branches are free. Deposits via authorized agents may incur additional fees set by the agent. These agent fees represent a secondary revenue sharing opportunity.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels9 records

Core offering

DigiBank (Al Bank Al Riqmi) is a digital banking platform that bridges cryptocurrency (USDT, USDC, BTC, ETH, and 500+ other coins) with fiat cash via a mobile/web app and a network of 2,000+ physical liquidity points. It offers four core services: cross-border money transfers from Europe, North America, and the GCC into sanctioned and underbanked MENA countries; crypto trading (spot, P2P, OTC); a merchant payment gateway with REST API, PayIn/Payout links, and White Label; and fiat cash deposit/withdrawal at agents and branches.

Product overview

DigiBank is a unified digital banking platform offering cryptocurrency-fiat financial services primarily targeting Arab users in sanctions-affected and underbanked MENA regions. The platform operates as a single application with four interconnected service modules: the core DigiBank Application for account management, a Trading Service with spot, P2P, and OTC capabilities for over 500 cryptocurrencies, a Money Transfer Service enabling remittances to Syria, Iraq, Lebanon, Yemen, Egypt, and Sudan via crypto-to-fiat conversion at liquidity points, and a Payment Gateway with PayIn/Payout links, White Label solution, and API integration for merchants. The platform supports 2,000+ liquidity points across 10+ countries, with users able to deposit/withdraw cash in local fiat currencies or conduct P2P and OTC trades. The platform was founded in 2021, holds GL-22 license from US Treasury for humanitarian financial services, and is headquartered in Jarablus, Syria.

Differentiator

Problem solved

Functional benefit

Products and services

• DigiBank Mobile/Web Application Main unified digital banking application for wallet management, crypto trading, money transfers, and payment gateway services. Available on Android via Google Play, direct APK download, and web browser access. Targets individual consumers, merchants, and humanitarian organizations.
• Trading Service Cryptocurrency trading platform offering spot trading via order book with market, limit, and stop-loss orders, plus P2P marketplace and OTC desk. Supports over 500 cryptocurrencies including BTC, ETH, USDT, USDC. Targets individual crypto traders and investors.
• Money Transfer Service Cross-border remittance service enabling transfers from anywhere in the world to MENA countries (Syria, Iraq, Lebanon, Yemen, Egypt, Sudan) using stablecoins (USDT, USDC) converted to local fiat at 2,000+ liquidity points. Charges 0.5%–2% versus 5%–10% for traditional remittance. Targets Arab migrants, refugees, and diaspora communities.
• Payment Gateway Payment collection and distribution service for e-commerce merchants and service providers. Supports crypto and fiat payments via PayIn and Payout links, dispute resolution, and competitive fees up to 1% per transaction. Includes REST API with webhooks and embedded iframe widget for integration.
• White Label Solution Customizable payment infrastructure allowing partners and merchants to white-label DigiBank's payment system with their own branding. Provides access to advanced API endpoints including sub-account creation, currency switching, internal transfers, and dispute management. Pricing is custom and negotiated.

Quantifiable outcome

• Remittance fees reduced to 0.5–2% vs 5–10% for traditional services (Western Union, banks)
• +6 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature9 records

Partnerships

15 partnerships are on record, tiered core and flagship.

• BinancecoreTechnology or IntegrationBinance is a globally licensed cryptocurrency exchange (regulated by VARA in Dubai) that serves as a primary on-ramp for DigiBank users. Users purchase USDT/USDC on Binance via P2P or bank transfer (AED, SAR, EUR), then deposit into DigiBank to convert to fiat. Binance supports SEPA transfers, bank transfers in AED/SAR, and credit cards with fees of 0–0.5%.
• CoinbasecoreTechnology or IntegrationCoinbase is a user-friendly global cryptocurrency exchange that DigiBank users leverage as an on-ramp. Users buy USDT/USDC on Coinbase via SEPA or credit cards (fees 0–3.99%), then transfer to DigiBank for fiat conversion.
• BybitcoreTechnology or IntegrationBybit is a globally licensed exchange (conditionally approved by ADGM) that DigiBank users use to purchase USDT/USDC. Supports AED bank transfers and credit cards. Users transfer purchased crypto to DigiBank for fiat withdrawal.
• RaincoreTechnology or IntegrationRain is a cryptocurrency exchange licensed by ADGM and the Central Bank of Bahrain, popular in Gulf countries. Supports AED bank transfers with no deposit or withdrawal fees. DigiBank users in the UAE/GCC purchase USDT/USDC via Rain and deposit into DigiBank.
• BitOasiscoreTechnology or IntegrationBitOasis is a UAE-based cryptocurrency platform licensed by VARA, enabling direct crypto purchases via bank transfer in AED. Popular among GCC users for purchasing USDT to send remittances via DigiBank.
• KrakencoreTechnology or IntegrationKraken is a secure, easy-to-use global cryptocurrency exchange supporting SEPA and SWIFT bank transfers and credit cards (fees 0–3.7%). DigiBank users in Europe purchase crypto here and deposit into DigiBank.
• TransakcoreTechnology or IntegrationTransak is a fiat-on-ramp provider ideal for quick crypto purchases via SEPA bank transfers or credit cards (fees 0.5–1%). DigiBank users globally use Transak to buy USDT/USDC for deposit into the platform.
• RevolutcoreTechnology or IntegrationRevolut is a neobank and crypto exchange enabling direct crypto purchases via bank transfer or credit cards (fees 0.5–2%). DigiBank users in Europe purchase USDT/USDC on Revolut and transfer to DigiBank.
• SwissBorgcoreTechnology or IntegrationSwissBorg is a cryptocurrency platform focused on security and ease of use, supporting SEPA and SWIFT bank transfers (fees 0.5–1%). DigiBank users in Europe use SwissBorg as a crypto on-ramp.
• MoonPaycoreTechnology or IntegrationMoonPay is a crypto on-ramp platform supporting bank transfers, credit cards, and Apple Pay (fees 1–4.5%). DigiBank users can purchase USDT/USDC via MoonPay and deposit into their DigiBank accounts.
• KucoincoreTechnology or IntegrationKucoin is a globally trusted cryptocurrency exchange supporting bank transfers and credit cards (fees 0–3%). DigiBank users globally can purchase crypto via Kucoin and deposit to their DigiBank wallet.
• OKXcoreTechnology or IntegrationOKX is a well-known global cryptocurrency exchange supporting SWIFT bank transfers and credit cards (fees 0–2%). Users purchase USDT/USDC on OKX and transfer to DigiBank for fiat withdrawal.
• BitfinexcoreTechnology or IntegrationBitfinex is a popular cryptocurrency exchange in Asia supporting bank transfers and credit cards (fees 0.1–1%). Users purchase crypto on Bitfinex and transfer to DigiBank.
• U.S. Treasury / OFACflagshipOthersDigiBank operates under U.S. Treasury General License 22 (GL-22), which authorizes humanitarian financial services in sanctioned areas. This regulatory clearance enables DigiBank to legally serve populations in Syria and other sanctioned regions.
• Sham Cash (شام كاش)coreTechnology or IntegrationSham Cash is an app under the Central Bank of Syria enabling digital payments and cash withdrawals. DigiBank users can withdraw their balance to their Sham Cash account and then from the Central Bank of Syria in Damascus or its branches across Syrian provinces.

Scale indicators18 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat7 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/DigiBankar
• YouTubeyoutube.com/channel/UCBEuiA-azTQ11MPF5XN2mcA
• Facebookfacebook.com/digibanksyria
• Instagraminstagram.com/digibank.ar
• TikToktiktok.com/@digibank.arabic
• LinkedInlinkedin.com/company/digibankar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DigiBank