Rohan Misra, Head of GCC at AMINA Financial institution on Thursday stated the United Arab Emirates has emerged as a mannequin jurisdiction for integrating crypto into regulated banking channels, urging different world regulators to take observe, particularly within the aftermath of banking failures like Silvergate and Signature.
“The UAE has approached crypto with maturity and construction,” Misra stated in an interview with Benzinga. “There are totally different licensing jurisdictions right here, and it has created wholesome competitors, giving market members selection. Extra nations ought to ideally observe swimsuit.”
His remarks come amid a shifting regulatory panorama the place jurisdictions akin to Switzerland and the UAE have embraced Web3 licensing frameworks, whereas U.S.-based banks that served crypto purchasers collapsed beneath the burden of regulatory stress and concentrated publicity.
Misra believes the important thing lesson from the Silvergate and Signature implosions is to not isolate crypto corporations, however to convey them into the fold of formal banking.
“There was a excessive diploma of focus with a few gamers within the ecosystem,” Misra famous. “It was a mixture of danger and regulatory motion.”
He added that regulatory isolation amplified systemic fragility. “It is a shout out to all banking regulators to discover crypto being built-in into banking so we will democratize entry.”
Amina Financial institution, based in Switzerland and licensed by FINMA, now operates throughout the European Union, the UAE, and Hong Kong.
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Misra stated the financial institution has adopted a risk-aware, jurisdictionally nuanced mannequin—serving over 30 domiciles whereas excluding sanctioned and high-risk areas.
“We consider each jurisdiction in its totality, together with nation dangers, banking dangers, and counterparty dangers,” he stated.
Referencing the function of banks as trusted intermediaries, Misra stated crypto’s long-term viability hinges on integration with establishments customers already perceive.
“Individuals have recognized about banks for lots of of years. Individuals really feel secure with banks,” he emphasised.
He credited Switzerland’s early management in regulated crypto banking and praised the UAE’s multi-regulator mannequin, calling it each aggressive and collaborative. “Right here, totally different licensing authorities have created an setting the place innovation is inspired, however danger can also be being managed.”
In gentle of previous failures like Silvergate and Signature, Misra stated danger underwriting practices are evolving.
As BIS-led initiatives like Mission Agora discover tokenized cash, Misra stated he expects central financial institution rails and crypto-native methods to coexist, not compete. “It is not often either-or,” he stated. “Each will proceed to evolve in parallel.”
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