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MultiBank Group has appointed Mohammed Al Hakim as Vice Chairman of the group and chief executive of MB.io, the company announced on 2 November. He was previously president and general manager of Crypto.com in the UAE. He will work directly with Naser Taher, MultiBank’s founder and chairman.
Key Takeaways
MultiBank Group appointed Mohammed Al Hakim as Vice Chairman of the group and CEO of MB.io, its crypto exchange, on 2 November 2026. He previously led Crypto.com’s UAE operations.
He will take MB.io into new markets, oversee MultiBank Exchange’s institutional expansion and build partnerships with financial institutions, governments and sovereign wealth funds. VARA’s register lists MB.io’s operator for exchange and broker-dealer services.
The release cites a US$32 billion valuation and US$450 billion in trading volumes from the group’s own figures. We found no independent source for either.
What he will do
According to the release, Al Hakim will strengthen MultiBank’s global presence, lead MB.io into new international markets and oversee the expansion of MultiBank Exchange. He will also build partnerships with financial institutions, governments and sovereign wealth funds, and advance the group’s work in real-world asset tokenisation, institutional trading and cross-border settlement.
MB.io is MultiBank’s cryptocurrency and digital asset trading platform. VARA’s public register lists MBIO FZE (MB.IO) as an active VASP licence holder for broker-dealer and exchange services, issued on 18 July 2024.
Naser Taher said,
“Al Hakim’s understanding of regulatory environments, institutional markets and digital assets and his ability to establish high-level partnerships will be central to the group’s international ambitions.”
Al Hakim said, “His priority is to translate the Group’s international ambitions into commercial results.”
His record at Crypto.com
Before Crypto.com, Al Hakim worked in the UAE federal government, including the Human Resources and Emiratisation Ministry. He is a graduate of the Mohammed bin Rashid Leadership Program. At Crypto.com he was president and general manager for the UAE and Bahrain.
The release credits him with the partnerships behind two payment launches: Crypto.com Pay with Emirates for flight bookings in July, and with Dubai Duty Free in August, which the companies called the first airport retailer in the Middle East to accept it. It also credits him with securing Crypto.com’s Stored Value Facilities licence from the Central Bank of the UAE, which the release calls a first for a crypto company, and says he advanced a pilot with Dubai’s Department of Finance. It says Crypto.com’s monthly transaction volumes in the UAE rose 49-fold between January and December 2025 without a dedicated marketing budget. That figure is the company’s own.
The group’s figures
The release says that, according to the group’s disclosed figures, MultiBank has a reported valuation of US$32 billion (AED 117 billion), has recorded trading volumes of US$450 billion and has seen peak daily volumes of US$55 billion. We couldn’t find an independent report of the valuation, and the release doesn’t explain how it is calculated.
MultiBank Exchange
The release says Al Hakim’s appointment coincides with the launch of MultiBank Exchange, which it calls the fastest matching engine in interbank trading history. MultiBank launched an institutional ECN called MEX Exchange in Dubai in May 2024, and its vice chairman, David Ogg, spoke to us in September. The release doesn’t say whether MultiBank Exchange is the same venue. The speed claim is MultiBank’s own.
What’s next
The announcement doesn’t say when Al Hakim starts, which new markets MB.io will enter, or who now leads Crypto.com’s UAE operations. Crypto.com hasn’t been quoted in the coverage we found.
FAQs
Who is Mohammed Al Hakim?
An Emirati executive who was president and general manager of Crypto.com for the UAE and Bahrain, after a role in the UAE federal government. MultiBank has named him Vice Chairman of the group and CEO of MB.io.
What is MB.io?
MultiBank Group’s cryptocurrency and digital asset trading platform. VARA’s register lists its operating entity, MBIO FZE, for broker-dealer and exchange services.
Is MB.io licensed in the UAE?
Yes. VARA’s public register lists MBIO FZE (MB.IO) with an active VASP licence for broker-dealer and exchange services, issued on 18 July 2024.
What did Al Hakim do at Crypto.com?
According to the release, he led the partnerships with Emirates and Dubai Duty Free, secured the Central Bank’s stored value facilities licence and advanced a Dubai Department of Finance pilot.
What is MultiBank Group’s valuation?
The release cites US$32 billion, from the group’s own disclosed figures. We found no independent source for it.
Editor’s Take: MultiBank has hired the executive behind Crypto.com’s main UAE partnerships to run MB.io, which already holds VARA’s licence for exchange and broker-dealer services. The remit leans on partnerships with governments and sovereign wealth funds more than on retail trading. The valuation, volume and fastest matching engine figures all come from the group itself, so the useful details to watch are the new markets MB.io names and what MultiBank Exchange is. The release also doesn’t say who succeeds him at Crypto.com’s UAE operations.