CoinMENA, Revolut Expand UAE Financial Services Footprint

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.

[Update June 18, 2026, 6:55 am UTC: Adds comments from a Revolut spokesperson.]

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.

The agreement reflects growing efforts by crypto firms in the UAE to secure access to regulated banking infrastructure as the country's digital asset sector matures and attracts greater institutional participation. Banking partnerships have increasingly become a priority for exchanges seeking reliable fiat payment rails and settlement services.

“We believe the industry's future depends on strong banking, regulatory, and operational foundations, not just technology,” CoinMENA co-founders Dina Sam’an and Talal Tabbaa said in a joint statement.

Separately, the Central Bank of the UAE (CBUAE) approved Revolut’s applications for Stored Value Facilities and Retail Payment Services licenses, according to Bloomberg.

Revolut reportedly plans to build out its technology, operations and local capabilities before making its services available in the country. UAE customers are expected to gain access to multi-currency accounts, physical and virtual cards, and domestic and international transfers through the company’s app.

Related: UAE-linked ADI Chain gains Ledger support amid stablecoin growth

The London-headquartered fintech is also reportedly considering expansion across the Middle East and North Africa, including Turkey and Morocco.

Revolut told Cointelegraph that the licenses announced cover stored-value facilities and retail payment services regulated by the CBUAE and do not authorize digital asset activities.

“Any future crypto-related products or services offered in the UAE will be subject to the appropriate regulatory approvals from the relevant authority,” a Revolut spokesperson said.

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