CoinMENA, Standard Chartered deepen UAE digital asset banking infrastructure

Dubai, UAE: CoinMENA FZE has entered into a strategic banking relationship with Standard Chartered in the UAE, marking another step in the integration of regulated digital asset firms with the country’s mainstream financial infrastructure.

The agreement will allow CoinMENA FZE, a Dubai-based virtual asset service provider licensed by the Virtual Assets Regulatory Authority, to use Standard Chartered’s banking capabilities to support fiat payment flows, client money services and transaction management for its customers.

Under the arrangement, CoinMENA will utilise Standard Chartered’s infrastructure for fiat on- and off-ramp services, enabling customers to move funds between traditional banking channels and digital asset platforms more efficiently. The solution includes safeguarded client money accounts, high-speed settlement rails and virtual account-based transaction management.

The companies said the agreement is designed to support faster funding, more efficient settlements and improved transaction transparency. It is also expected to strengthen CoinMENA’s operational scalability and support liquidity settlement with approved global counterparties.

The move comes as the UAE continues to position itself as a regulated hub for digital assets, fintech innovation and institutional-grade crypto services. Dubai’s VARA framework has created a licensing structure for virtual asset service providers, while federal coordination between UAE authorities has further strengthened the country’s digital asset regulatory environment.

CoinMENA FZE is listed on VARA’s public register as holding a VASP licence for broker-dealer services. The licence was issued on 30 November 2023 and permits the company to serve retail investors, qualified investors and institutional investors.

For CoinMENA, the Standard Chartered relationship is significant because reliable banking access remains one of the most important infrastructure challenges for digital asset platforms globally. While crypto exchanges often focus on trading technology, liquidity and token access, the ability to offer secure, transparent and fast fiat settlement is central to customer trust and institutional adoption.

Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan at Standard Chartered, said the UAE has become “one of the world’s leading regulatory environments” for digital assets. She added that “trusted banking infrastructure” would remain important as the sector matures.

CoinMENA Group Co-Founders Dina Sam’an and Talal Tabbaa said the partnership reflects a broader regional shift in which regulated platforms are joining mainstream financial infrastructure. They said the future of the industry depends on strong banking, regulatory and operational foundations, not only technology.

The agreement also fits Standard Chartered’s wider digital asset strategy. In September 2024, the bank launched digital asset custody services in the UAE after receiving a licence from the Dubai Financial Services Authority. That service was introduced from the Dubai International Financial Centre and initially targeted institutional clients.

Although the CoinMENA agreement is focused on banking and fiat infrastructure rather than custody, it points to the same broader trend: global banks are becoming more willing to support regulated digital asset businesses where legal, compliance and client asset safeguards are clearly defined.

The UAE has been building a multi-layered digital asset framework over recent years. VARA regulates virtual asset activities in Dubai outside the DIFC, while the DFSA oversees crypto-token activity within the DIFC. At the federal level, the UAE’s capital markets regulator and VARA announced a cooperation framework in 2024 to strengthen oversight and support licensing coordination across the country.

This regulatory clarity is one reason international banks and fintech firms continue to expand digital asset activity in the UAE. For crypto platforms, the ability to connect to recognised banking institutions can help improve compliance standards, reduce operational friction and increase customer confidence.

No financial value, transaction volume, exclusivity term or customer balance figure was publicly disclosed for the CoinMENA-Standard Chartered agreement. The companies also did not announce specific rollout targets or service-level metrics.

However, the operational scope of the deal is clear. CoinMENA will use Standard Chartered’s banking capabilities to support customer money accounts, fiat connectivity, settlement flows and transaction transparency. These are foundational services for any digital asset platform seeking to serve both retail and institutional customers in a regulated environment.

The agreement comes at a time when banks in the Gulf are increasingly assessing digital asset opportunities through a regulated and risk-managed lens. Rather than treating crypto firms as outside the traditional financial system, selected regulated platforms are being connected to bank-grade infrastructure where compliance standards are met.

For the MENA region, the development is important because it shows how the digital asset sector is moving from early-stage market access toward deeper financial integration. The next phase of growth is likely to depend less on token listings and more on settlement quality, client asset protection, liquidity access and trusted banking relationships.

CoinMENA said the agreement represents an important step in strengthening digital asset banking integration in the region. The company added that it will continue expanding secure features and services to support its growing customer base across the MENA market.

For Standard Chartered, the partnership reinforces its role in the UAE’s evolving digital finance ecosystem. For CoinMENA, it provides a stronger banking foundation as regulated digital asset platforms compete not only on technology, but also on trust, transparency and operational resilience.

Sources

• CoinMENA press release: https://www.coinmena.com/en/blog/38dfbizx7i3kuZkR2lriCy
• VARA public register: https://www.vara.ae/en/licenses-and-register/public-register/coinmena-fze/
• Standard Chartered UAE digital asset custody announcement: https://www.sc.com/en/press-release/standard-chartered-launches-digital-asset-custody-service-in-the-uae/
• UAE CMA/SCA and VARA regulatory framework announcement: https://www.uaecma.gov.ae/en/media-center/news/9/9/2024/sca-and-vara-set-regulatory-framework-for-the-uaes-virtual-assets-sector-in-boost-to-the-countrys-.aspx