The post UAE MBank offers AED fiat to crypto escrow account appeared on BitcoinEthereumNews.com.

UAE MBank, Al Maryah Community Bank, the first fully integrated digital bank in the UAE, is offering secure and regulated AED dirham to crypto conversions and trades, AED Escrow Account Services, executed at UAE regulated crypto custodian, Changer.ae platform. As per the press release, the service seeks to bridge the gap between traditional finance and the digital asset economy. By providing AED Escrow Account Services to Changer.ae, MBank will allow clients of Changer.ae to safely utilize a Dirham escrow account powered by the bank, while all conversions between dirhams and crypto assets are executed by Changer.ae. UAE Central Bank approves escrow Account Mbank and Changer.ae announcement of this unique Dirham-based crypto conversion service, including a fully regulated fiat escrow account in AED for crypto transactions was made between Mohammed Wassim Khayata, CEO of Mbank and Wang Hao, Senior Executive Officer at Changer.ae. The Central Bank of the United Arab Emirates (CBUAE) officially approved Mbank’s request to open an AED Escrow Account for Changer.ae. This approval enables secure and compliant holding of AED funds in escrow through Mbank’s digital infrastructure, while the conversion of virtual assets and stablecoins such as USDT and USDC into AED is carried out by Changer.ae. Mr. Mohammed Wassim Khayata, CEO of Mbank and Board Member of Changer.ae, expressed his excitement for the new service stating: “By providing AED Escrow Account Services to Changer.ae, we ensure secure and regulated dirham to crypto conversions for Changer clients. This partnership with Changer.ae aligns with our mission to drive innovation in the UAE’s financial ecosystem by offering regulated and secure financial infrastructure.” The service will eliminate uncertainty and delays associated with fiat, on-ramp and off-ramp transactions. It is entirely online, transparent, and offers seamless access to funds. Individuals can now manage crypto to fiat flows with ease backed by MBank…

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Filed under: News - @ May 12, 2025 10:26 am