Key Notes
- Mbank is partnering with Changer.ae to offer an escrow service.
- Users of Changer.ae can purchase crypto while their AED fund is with Mbank.
- The partnership complies with UAE Central bank’s guidelines.
UAE-based Al Maryah Community Bank (Mbank) , the country’s first fully integrated digital bank, is offering secure and compliant AED-to-cryptocurrency conversion and trading services. In collaboration with Changer.ae , a UAE-regulated digital asset custodian platform, Mbank is also introducing AED Escrow Account solutions.
The goal of this partnership is to bridge the gap between traditional finance and the digital asset ecosystem. Through this collaboration, users of Changer.ae can securely utilize the Dirham escrow account service provided by Mbank.
The service enables users to convert cryptocurrency into dirhams and vice versa, all while ensuring full regulatory compliance and seamless transactions within the digital asset platform.
UEA Apex Bank Agrees
According to the announcement made on Mbank’s X page, this new Dirham-based crypto conversion service has been approved by the Central Bank of the United Arab Emirates (CBUAE).
يفخر بنك المارية المحلي بتقديم خدمات حساب الضمان بالدرهم الإماراتي لعملاء شركة تشينجر.إيه أي، وذلك بموافقة مصرف الإمارات العربية المتحدة المركزي.
وتُنفذ عمليات تحويل العملات الرقمية إلى الدرهم عبر منصة تشينجر.إيه أي، بينما يتولى بنك المارية المحلي حفظ الأموال بأمان وفقًا للوائح… pic.twitter.com/yv87Vuejrs— Al Maryah Community Bank (@almaryahbank) May 12, 2025
With this service, MBank is expected to hold the funds in dirham using an escrow service, while users can convert their crypto assets using Changer.ae. Funds in AED are only released to the digital exchange platform once the conversion is done.
By removing the unpredictability and delays often tied to fiat on- and off-ramp transactions, clients benefit from a streamlined, transparent experience that offers instant online access to their funds. With the support of Mbank’s cutting-edge digital banking platform, managing crypto-to-fiat flows has never been easier.
Cryptocurrency partnerships and escrow services are gaining traction globally, with regulatory bodies increasingly approving such services. A notable example is Bhutan, a South Asian country known for its crypto investments, which has launched a cryptocurrency payment platform for the tourism sector.
In collaboration with Binance Pay and DK Bank, tourists can now pay for goods and services using over 100 cryptocurrencies, with payments instantly converted into local currency. This highlights the growing acceptance and integration of crypto into mainstream financial systems.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
