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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
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- #Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
UAE's Mbank Launches AED Crypto Conversion
Mbank and Changer.ae have launched a Dirham-based crypto conversion service, following approval from the UAE Central Bank to open a fully regulated AED escrow account.
Secure and Regulated Dirham to Crypto Conversions
The United Arab Emirates (UAE) integrated digital bank, Al Maryah Community Bank (Mbank), together with crypto custodian Changer.ae, has announced the launch of a unique Dirham-based crypto conversion service. The launch of the service follows the UAE Central Bank’s greenlighting of Mbank to open an AED Escrow Account.
According to a statement, the central bank enables secure and compliant holding of AED funds in escrow through Mbank’s digital infrastructure. It also allows the conversion of virtual assets and stablecoins such as USDT and USDC into AED via the Changer.ae platform. Mohammed Wassim Khayata, CEO of Mbank and a board member of Changer.ae, hailed the partnership for enabling secure crypto-related transactions.
“By providing AED Escrow Account Services to Changer.ae, we ensure secure and regulated dirham to crypto conversions for Changer clients. This partnership with Changer.ae aligns with our mission to drive innovation in the UAE’s financial ecosystem by offering regulated and secure financial infrastructure,” Khayata stated.
The CEO added that the escrow account’s launch demonstrates the UAE’s commitment to becoming a global crypto hub while maintaining the highest standards of security. Wang Hao, senior executive officer at Changer.ae, said the central bank’s approval made it possible to enhance the custody service entity’s service offerings.
Meanwhile, Tarek Soubra, CTO at Mbank, characterized the new service as a “leap” forward for the two partners. As per the statement, Mbank customers now benefit from a secure, fast, and transparent crypto-to-fiat experience.
“Customers can now convert their cryptocurrencies into AED through Changer.ae and then use their converted AED funds immediately and seamlessly, with Mbank holding the AED funds in escrow. Alternatively, Mwallet customers can now receive their converted AED funds immediately into their wallets and use them for any supported transactions or for immediate cash withdrawal, using a Jaywan ATM card,” Soubra said.