Standard Chartered launches crypto trading in UAE
- Standard Chartered has launched cryptocurrency trading for eligible affluent clients in the United Arab Emirates.
- Clients can buy and sell Bitcoin and Ether through existing bank accounts.
- The service operates under approval from the UAE’s Virtual Assets Regulatory Authority.
Standard Chartered PLC (LSE:STAN; HKEX:2888) has launched cryptocurrency trading for eligible affluent clients in the United Arab Emirates, following regulatory approval from the Virtual Assets Regulatory Authority (VARA).
The service initially targets Professional Investor clients in the UAE, with Standard Chartered planning to expand into other markets over time.
“As client interest in digital assets continues to grow, this launch represents a significant milestone for Standard Chartered as we bring digital assets into our core wealth offering,” said Samir Subberwal, Global Head of Wealth Solutions, Retail Products, Data & Analytics.
Eligible clients can buy and sell Bitcoin (BTC) and Ether (ETH) through existing bank accounts without using separate wallets or third-party platforms.
Standard Chartered manages custody and settlement within its banking ecosystem through a closed-loop model designed to reduce exposure to third-party wallet risks.
The service combines the bank’s Wealth and Retail Banking and Corporate and Investment Banking businesses with support from SC Ventures-backed Zodia Markets.
The launch builds on Standard Chartered’s existing digital asset services, including institutional crypto trading, custody, exchange-traded fund access and structured products.
Following the announcement, Standard Chartered shares closed at £21.36, down 1.43%.
