Standard Chartered is introducing a cryptocurrency trading solution that lets its wealthy UAE clients buy and sell Bitcoin and Ethereum directly through their existing bank accounts in a closed-loop system with institutional custody.
The bank says this marks a global first for the institution and the UAE’s first such offering by an international bank, regulated by the Virtual Assets Regulatory Authority (VARA).
Eligible affluent clients can execute trades within the bank’s ecosystem where Standard Chartered handles custody and settlement to reduce third-party risks through collaboration with its wealth and corporate businesses plus SC Ventures-backed Zodia Markets.
The service launches first for Professional Investor clients in the UAE with expansion planned to other markets later and builds on the bank’s existing crypto access through ETFs, structured products and OTC derivatives.
Samir Subberwal, Global Head of Wealth Solutions at the bank, highlights growing client interest in digital assets.
“With digital assets moving into mainstream wealth conversations, clients are increasingly looking not only for access, but also for the security, trust and confidence that comes from investing through a regulated and trusted institution.”
Rola Abu Manneh, CEO for UAE, Middle East and Pakistan at Standard Chartered, notes the strategic fit with the region.
“We are proud to be the first international bank in the UAE to launch a cryptocurrency trading offering. The UAE was a natural choice for this launch, given the country’s forward-looking approach to innovation, strong regulatory environment and growing leadership in digital assets. This also reflects the strategic importance of the UAE within our network as one of our four global wealth hubs.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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