Crypto.com UAE President Mohammed Al Hakim joins MultiBank

Dubai-based CFDs broker MultiBank Group has appointed Mohammed Al Hakim, formerly president and general manager of Crypto.com in the United Arab Emirates, as vice chairman and chief executive of its crypto unit, MB.io. The group said he will take MB.io into new international markets and oversee the expansion of MultiBank Exchange, its matching engine operation.

Al Hakim will work with MultiBank Group founder and Chairman Naser Taher on partnerships with financial institutions, governments and sovereign wealth funds. His remit includes developing the group’s work in real-world asset tokenisation, institutional trading and cross-border settlement through MB.io and MultiBank Exchange.

MultiBank’s press release described the privately owned group as having a “reported valuation” of $32 billion but gave no source or basis for the figure. The company claims monthly trading volume of about $450 billion, a figure described as unverified. Poland-based CFDs broker XTB SA, listed on the Warsaw Stock Exchange as XTB, averages about $340 billion in verified monthly volume and has a market capitalisation of $3.9 billion. eToro, listed on Nasdaq as ETOR, has quarterly revenue greater than XTB’s and a market capitalisation of $1.8 billion.

Before joining MultiBank, Al Hakim held a senior leadership position in the UAE federal government and graduated from the Mohammed bin Rashid Leadership Program. At Crypto.com, he led partnerships with Emirates and Dubai Duty Free. Crypto.com Pay with Emirates launched in July 2026, allowing eligible UAE customers to pay for flights through the airline’s website and app. Dubai Duty Free introduced the payment solution in August 2026, becoming the first airport retailer in the Middle East to offer it in airport stores and online.

Al Hakim also secured a Stored Value Facilities licence for Crypto.com from the Central Bank of the United Arab Emirates, which the company described as the first such licence granted to a cryptocurrency company. Crypto.com’s monthly transaction volumes in the UAE rose 49-fold from January to December 2025 under his leadership, without a dedicated marketing budget. He also advanced a Dubai Department of Finance digital payments initiative through its pilot phase and expanded institutional relationships with regulators, banks, financial institutions and international companies.

Taher said Al Hakim’s regulatory and institutional experience would support the group’s international ambitions and efforts to build a globally integrated financial ecosystem.

“I am honoured to join MultiBank Group at a pivotal stage in its development,” Al Hakim said. He said his priorities include expanding MB.io into new markets, building MultiBank Exchange’s institutional reach, establishing partnerships and developing solutions for tokenisation, digital asset trading and financial infrastructure.

MultiBank Group was established in California in 2005. The company says it serves more than 2 million clients in 100 countries, has daily trading volume above $35 billion and is regulated by more than 18 financial authorities across five continents. Its platforms offer leverage of up to 1,000:1 across products including foreign exchange, metals, shares, commodities, indices and cryptocurrencies.

MB.io is MultiBank Group’s crypto exchange division, regulated by the Virtual Assets Regulatory Authority in the UAE and the Australian Transaction Reports and Analysis Centre. Based in Dubai, it offers spot trading, the group’s $MBG utility token, on- and off-ramp services and an over-the-counter desk.