Standard Chartered Launches Direct Bitcoin and Ether Trading for UAE Wealthy Clients
Standard Chartered has launched a cryptocurrency trading service for affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell Bitcoin (BTC) and Ether (ETH) directly through their existing bank accounts. The service initially targets clients classified as professional investors and marks the bank's first direct crypto trading offering for wealthy customers in any market.
The London-based lender said the launch also represents the first service of its kind offered by an international bank in the UAE. The initiative expands its digital asset business beyond institutional trading and gives eligible private clients access to cryptocurrency transactions within the bank's existing ecosystem.
Bitcoin and Ether Trading Through Existing Bank Accounts
Standard Chartered will handle custody and settlement through a closed-loop system. Under this arrangement, clients will not need to set up separate cryptocurrency wallets or use third-party trading platforms to complete transactions.
The service combines capabilities from the bank's wealth and retail banking operations with its corporate and investment banking business. It operates through Zodia Markets, a digital asset platform backed by Standard Chartered's SC Ventures unit.
Standard Chartered said the service has received licensing approval from Dubai's Virtual Assets Regulatory Authority (VARA), the regulator responsible for overseeing virtual asset activities in Dubai.
Standard Chartered Expands Its Crypto Trading Business
The launch builds on the bank's existing cryptocurrency trading operations. Standard Chartered introduced institutional spot trading in Bitcoin and Ether through its UK arm in July of the previous year, before extending the offering to the UAE on September 3.
The bank also provides eligible clients with access to cryptocurrency exchange-traded funds (ETFs), structured products and over-the-counter derivatives. The new service adds direct Bitcoin and Ether trading to that range of digital asset investment options.
More Markets Planned for the Crypto Trading Service
Standard Chartered said it intends to expand the direct trading service into additional markets. However, the bank did not provide a timetable for further launches in its announcement.
The UAE launch gives eligible professional investors access to Bitcoin and Ether trading through a traditional banking relationship, while custody and settlement remain within Standard Chartered's own ecosystem. Any expansion beyond the UAE will depend on the bank's future plans and applicable market requirements.
data source:coindesk.com
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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