CoinMENA Partners with Standard Chartered to Enhance UAE Payment Infrastructure
- CoinMENA has signed a banking agreement with Standard Chartered to improve fiat payment services in the UAE.
- The partnership will facilitate fiat on- and off-ramps, client money accounts, and transaction management.
- Standard Chartered’s CEO for UAE, Rola Abu Manneh, highlighted the UAE’s regulatory environment as favorable for digital assets.
- CoinMENA co-founders emphasized the importance of strong banking and regulatory frameworks for industry growth.
- Separately, Revolut received approval from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services licenses.
The collaboration between CoinMENA and Standard Chartered reflects a growing trend among crypto firms in the UAE to secure reliable banking infrastructure as the digital asset sector evolves. Additionally, Revolut’s licensing marks a significant step towards expanding its services in the region.
With these developments, CoinMENA aims to enhance liquidity and transparency in transactions while Revolut prepares to offer multi-currency accounts and payment services in the UAE.(Source)
