CoinMENA, Standard Chartered partner on UAE payment rails

CoinMENA will use Standard Chartered to strengthen fiat payment rails in the UAE, while Revolut reportedly secured central bank licenses ahead of a planned local launch.

Crypto exchange CoinMENA has entered a banking agreement with Standard Chartered to strengthen fiat payment infrastructure for customers in the United Arab Emirates.

Under the agreement, CoinMENA will use Standard Chartered to support fiat on- and off-ramps, client money accounts and virtual account-based transaction management, according to a press release shared to Cointelegraph. The exchange said the arrangement would improve transparency and liquidity settlement with approved global counterparties.

In the announcement, Standard Chartered UAE, Middle East and Pakistan CEO Rola Abu Manneh said the UAE had established itself as a leading regulatory environment for digital assets, creating opportunities for financial institutions and regulated firms to collaborate.

Read more