Mbank Provides AED Escrow Account Services To Changer.ae Clients
The post Mbank Provides AED Escrow Account Services To Changer.ae Clients appeared on BitcoinEthereumNews.com. Abu Dhabi, United Arab Emirates, May 12th, 2025, Chainwire Al Maryah Community Bank (Mbank) has launched AED Escrow Account Services in collaboration with Changer.ae, enabling secure and regulated conversions between the UAE Dirham and digital assets. The announcement was made during the TOKEN2049 event in Dubai, with representatives from both organizations present, including Mohammed Wassim Khayata, CEO of Mbank and Board Member of Changer.ae, and Wang Hao, Senior Executive Officer at Changer.ae. The Central Bank of the United Arab Emirates (CBUAE) has formally approved Mbank to operate an AED escrow account for Changer.ae, a licensed Virtual Asset Service Provider (VASP) under the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Under this framework, Changer.ae facilitates the execution of crypto-to-fiat and fiat-to-crypto conversions, while Mbank provides escrow services for the associated AED funds. This service allows individual and business users to convert stablecoins such as USDT and USDC into Dirhams, and vice versa, within a regulated environment. AED funds are held in escrow by Mbank, leveraging its digital infrastructure and compliance standards to ensure transaction security and transparency. The offering supports online processing, enabling real-time access to both fiat and digital asset balances. The partnership aims to provide a compliant solution for crypto on-ramp and off-ramp use cases in the UAE, minimizing operational friction and offering end-users increased confidence in transaction execution. Businesses also benefit from the ability to manage crypto-related payments within the existing UAE banking system. In addition to the escrow service, Mbank has received regulatory approval from the CBUAE to offer Payment Token Services. This allows merchants to open accounts and accept crypto-related payments through the AEC Wallet, contributing to the UAE’s broader efforts to support a regulated digital asset ecosystem. Mohammed Wassim Khayata, CEO of Mbank, noted that the initiative reflects ongoing efforts to…
The post Mbank Provides AED Escrow Account Services To Changer.ae Clients appeared on BitcoinEthereumNews.com.
Abu Dhabi, United Arab Emirates, May 12th, 2025, Chainwire Al Maryah Community Bank (Mbank) has launched AED Escrow Account Services in collaboration with Changer.ae, enabling secure and regulated conversions between the UAE Dirham and digital assets. The announcement was made during the TOKEN2049 event in Dubai, with representatives from both organizations present, including Mohammed Wassim Khayata, CEO of Mbank and Board Member of Changer.ae, and Wang Hao, Senior Executive Officer at Changer.ae. The Central Bank of the United Arab Emirates (CBUAE) has formally approved Mbank to operate an AED escrow account for Changer.ae, a licensed Virtual Asset Service Provider (VASP) under the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Under this framework, Changer.ae facilitates the execution of crypto-to-fiat and fiat-to-crypto conversions, while Mbank provides escrow services for the associated AED funds. This service allows individual and business users to convert stablecoins such as USDT and USDC into Dirhams, and vice versa, within a regulated environment. AED funds are held in escrow by Mbank, leveraging its digital infrastructure and compliance standards to ensure transaction security and transparency. The offering supports online processing, enabling real-time access to both fiat and digital asset balances. The partnership aims to provide a compliant solution for crypto on-ramp and off-ramp use cases in the UAE, minimizing operational friction and offering end-users increased confidence in transaction execution. Businesses also benefit from the ability to manage crypto-related payments within the existing UAE banking system. In addition to the escrow service, Mbank has received regulatory approval from the CBUAE to offer Payment Token Services. This allows merchants to open accounts and accept crypto-related payments through the AEC Wallet, contributing to the UAE’s broader efforts to support a regulated digital asset ecosystem. Mohammed Wassim Khayata, CEO of Mbank, noted that the initiative reflects ongoing efforts to…
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