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MidChains and Standard Chartered establish strategic banking partnership

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MidChains and Standard Chartered establish strategic banking partnership

Fiat settlement, segregated client money accounts and correspondent banking to support MidChains’ institutional services.

MidChains FZE, a digital asset platform licensed by the Virtual Assets Regulatory Authority (VARA) to provide broker-dealer services to retail, institutional and qualified investors, announced a strategic banking partnership with Standard Chartered.

Under the partnership, Standard Chartered will support MidChains with a range of banking services, including fiat settlement capabilities, segregated client money accounts, and correspondent banking. These services will power MidChains’ day-to-day operations and enable efficient settlement.

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Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan, Standard Chartered, said: “The UAE has established itself as one of the world’s leading regulatory environments for digital assets and a global centre for financial activity. That creates a strong setting for regulated digital asset firms and established financial institutions to work together. Our partnership with MidChains puts that opportunity into practice, with Standard Chartered providing the banking services that support its institutional activity, including fiat settlement, segregated client money accounts and correspondent banking.” Basil Al Askari, Chief Executive Officer, MidChains, added: “Institutional capital moves continuously between traditional and digital markets, and the infrastructure supporting that activity must keep pace. For institutional investors, digital asset services need to connect with the banking system that supports their wider activity. Our partnership with Standard Chartered brings that connection to MidChains’ institutional services, supporting clients as capital moves between traditional and digital markets.”

By bringing a VARA-licensed digital asset platform together with an established international bank, the partnership connects institutional digital asset activity with the banking infrastructure behind fiat settlement.


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