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CoinMENA, Standard Chartered partner on UAE payment rails

CoinMENA, Standard Chartered partner on UAE payment rails

Uverejnil používateľ | jún 17, 2026 |

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.Source: CoinMENARevolut moves closer to UAE launchSeparately, 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 growthThe London-headquartered fintech is also reportedly considering expansion across the Middle East and North Africa, including Turkey and Morocco.However, Revolut has not publicly confirmed whether its local offering will include digital asset trading, transfers, staking or access to its Revolut X exchange. The reported licenses cover stored-value and retail payment services rather than explicit authorization for virtual asset activities.Cointelegraph reached out to Revolut for comment but did not receive a response before publication.Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

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China pays closer attention to stablecoins as cross-border role expands

China pays closer attention to stablecoins as cross-border role expands

Uverejnil používateľ | jún 17, 2026 |

China’s central bank is paying closer attention to stablecoins as privately issued digital currencies take on a potentially larger role in the international monetary system and cross-border payments.Wang Xin, director general of the Research Bureau at the People’s Bank of China (PBOC), urged authorities to closely monitor the impact of stablecoins while improving international coordination and regulation, Chinese news outlet The Paper reported on Wednesday. “We also need to pay attention to several new areas, such as whether stablecoins will play a more important role in cross-border payments, and how regulation, international coordination and cooperation should proceed,” Wang reportedly said, according to a machine translation. He also warned that growing uncertainty and a potential weaponization of payments could disrupt normal cross-border transactions. The remarks reflect growing attention among Chinese regulators to the potential role of stablecoins in cross-border payments and the international monetary system.Related: Chinese court treats Bitcoin as property in 107 BTC memory theft caseWhile Wang advocated for stronger oversight and cautious exploration, he did not endorse stablecoins or announce policy changes. In addition to stablecoins, Wang warned about central bank digital currencies (CBDCs). He said the role of CBDCs in cross-border payments also warrants closer observation, along with improved policy cooperation. China’s stablecoin scrutiny comes amid rapid growthWang’s remarks come months after the PBOC and seven other Chinese agencies banned the unauthorized issuance of renminbi-pegged stablecoins and tokenized real-world assets on Feb. 6. The rules applied to foreign and domestic entities and covered onshore and offshore versions of the yuan, requiring issuers to obtain government approval, reinforcing China’s preference for state-controlled digital money over privately issued tokens.Stablecoin market cap dropped back to $315 billion after rising to as high as $322 billion. Source: DefiLlamaStablecoins account for a growing share of digital asset market activity. In the first quarter of 2026, the overall stablecoin supply grew by about $8 billion to reach $315 billion for the first time, according to data from CEX.io.CEX.io said that stablecoin transaction volume exceeded $28 trillion in the quarter, while representing 75% of the total crypto trading volume. Despite this, CEX.io estimated that bots generated roughly 76% of the transaction volume.Magazine: Vietnam preps crypto pilot, HK pushes tokenization: Asia Express

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Solana treasury firms resist Forward Industries’ consolidation push

Solana treasury firms resist Forward Industries’ consolidation push

Uverejnil používateľ | jún 16, 2026 |

Solana treasury companies are resisting acquisition attempts by Forward Industries, with two firms rejecting proposed combinations and a third allowing its offer to expire without responding.Forward said Monday that Solana Company (HSDT), formerly Helius Medical Technologies, rejected an all-stock proposal that would have given its shareholders 0.386 newly issued Forward shares for each HSDT share. According to Forward, the offer valued HSDT at $1.63 per share.“On June 12th, HSDT responded that its board voted to decline Forward’s offer and chose to not engage in further discussion. We are disappointed and surprised that the HSDT board has chosen to reject Forward’s offer without any discussion or communication,” Forward said in its press release.Forward also said SkyAI did not respond to an acquisition proposal valuing the company at $1.55 per share before the offer expired Friday. Separately, Brera Holdings rejected a nonbinding all-stock proposal from Forward on June 9 that valued its shares at $7.19 each.The responses complicate Forward Industries’ efforts to consolidate public companies with exposure to Solana (SOL). The company has argued that combining Solana-focused firms would create greater scale and liquidity than operating as standalone companies.Top 10 Solana treasury companies by holdings. Source: CoinGeckoForward has positioned itself as the largest Solana treasury company, holding about 7 million SOL acquired for nearly $1.6 billion, according to CoinGecko. The company launched its treasury strategy in September 2025 and has since staked its holdings.Related: Sharplink, Forward Industries among crypto firms considered for Russell indexesCoinGecko data shows that Forward’s tokens are currently worth approximately $525 million, implying an unrealized loss of over $1 billion from the reported acquisition costs. Treasury firms face pressure to gain scale August Widmer, a partner at investment firm Echo Base, told Cointelegraph in a statement that investors lost interest in treasury companies over the past year because the vehicles were generally riskier and less efficient than dedicated structured products.“Now, firms are forced to desperately try to consolidate in an effort to capture enough market share to keep themselves afloat,” Widmer said.Widmer added that consolidation may be the only viable path for the sector, but argued that the rejections showed that smaller operators were not yet prepared to accept that outcome.“Consolidation is the only viable option and few firms have earned their right to be independent,” Widmer said, adding that the denials indicate that “there’s still further to fall in this market before that reality is accepted.”Forward did not immediately respond to a request for comment.Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

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Bitcoin miner IREN enters Europe with Nostrum acquisition as AI pivot accelerates

Bitcoin miner IREN enters Europe with Nostrum acquisition as AI pivot accelerates

Uverejnil používateľ | jún 16, 2026 |

Bitcoin miner IREN has completed its acquisition of the Spanish data center developer Nostrum Group, marking its entry into Europe as the company builds out its artificial intelligence cloud business. IREN said in a press release on Monday that the acquisition adds about 490 megawatts of secured, grid-connected power in Spain, along with a development pipeline and over 50 employees across engineering, construction, development and operations. The deal expands IREN’s global power portfolio to about 5 gigawatts, with the Spanish capacity representing about 10% of the total.IREN co-founder and co-CEO Daniel Roberts said Spain offers a combination of renewable power and fiber connectivity, giving the company a base from which to serve growing European demand for AI infrastructure.“Europe is one of the largest and fastest-growing markets for AI infrastructure, and Spain is among its most compelling entry points,” Roberts said.The acquisition is part of IREN’s push into AI cloud services, which can provide more predictable, contract-based revenue as rising mining difficulty and volatile Bitcoin (BTC) prices pressure the economics of crypto mining.Related: Trump-linked American Bitcoin reports $82M Q1 loss, revenue missThe move also aligns IREN with a broader trend among Bitcoin miners building AI infrastructure in Europe. HIVE Digital has been converting part of its facility in Sweden for AI computing, while Bitdeer is developing AI data center capacity in Norway.IREN accelerates AI cloud pivotAccording to IREN’s results for the quarter that ended March 31, Bitcoin mining remained its largest revenue source. The company reported $111.2 million in mining revenue, compared with $33.6 million from its AI cloud services. IREN said AI cloud revenue rose from $17.3 million in the previous quarter, while Bitcoin mining revenue fell from $167.4 million. The company attributed the decline in mining partly to lower average BTC prices and the decommissioning of mining hardware. Bitcoin’s year-to-date chart. Source: CoinGeckoAnalysts at Bernstein previously said IREN could eventually phase out much of its Bitcoin mining business as it retrofits existing sites for AI cloud infrastructure. IREN reported having about 150,000 GPUs installed or on order as of March 31, which they estimate could support a $3.7 billion annual revenue run rate.Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

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