Standard Chartered has launched a cryptocurrency trading service for affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell Bitcoin and Ether directly through their existing bank accounts.
Announced on October 14, the offering, which the bank describes as the first cryptocurrency trading service of its kind by an international bank in the UAE, will initially be available to Professional Investor clients. Standard Chartered received licensing approval from the Virtual Assets Regulatory Authority (VARA) and will initially make the service available to Professional Investor clients, with plans to expand to other markets over time.
Eligible clients can buy and sell Bitcoin (BTC) and Ether (ETH) without opening separate wallets or using third-party platforms. Standard Chartered will manage custody and settlement within its banking ecosystem through a closed-loop model designed to reduce exposure to third-party wallet risks.
Standard Chartered Brings Bitcoin and Ether to Wealth Clients
The bank developed the service through a collaboration between its Wealth and Retail Banking and Corporate and Investment Banking businesses, alongside SC Ventures-backed Zodia Markets. The arrangement combines institutional-grade custody, liquidity and client access within a single digital asset ecosystem.
Samir Subberwal, Global Head of Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, said the launch brings digital assets into the bank’s core wealth offering as client interest grows. The bank said affluent and high-net-worth investors increasingly consider digital assets as part of diversified portfolios and seek access through established financial institutions.
The UAE launch builds on Standard Chartered’s existing digital asset services, which include cryptocurrency exchange-traded funds through its cash equities trading platform, as well as exposure through structured products and over-the-counter derivatives. The bank also expanded its institutional Bitcoin and Ether spot trading service in the UAE on September 3, allowing eligible institutional clients to trade through its electronic channels and settle transactions with a custodian of their choice.
Investor Takeaway
Standard Chartered now offers eligible UAE Professional Investors direct Bitcoin and Ether trading through existing bank accounts, with custody and settlement managed within its banking ecosystem.
UAE Launch Builds on Standard Chartered’s Institutional Crypto Push
Standard Chartered has expanded its digital asset infrastructure beyond trading through custody services for institutional clients. In September, the bank expanded its partnership with LMAX Group to include digital asset custody in Luxembourg and the Dubai International Financial Centre, extending its custody capabilities across the Middle East and Europe.
On October 12, the bank launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger through its Dubai International Financial Centre branch. Standard Chartered also announced plans to work with Ripple and LMAX Group to enable institutional clients to use RLUSD as collateral for eligible trading products, with the underlying assets remaining in custody while the bank mirrors their value to LMAX Group. The RLUSD custody launch and planned collateral integration form part of the bank’s wider effort to support institutional participation in digital asset markets.
Standard Chartered has also outlined plans to introduce digital asset custody in Singapore for selected cryptoassets, stablecoins and tokenised real-world assets, targeting institutional clients and corporate clients that qualify as accredited investors, subject to applicable regulatory requirements. The bank has not announced a launch date or a list of supported assets for the proposed service.
Investor Takeaway
Standard Chartered is expanding its institutional digital asset infrastructure through custody services in the UAE and Luxembourg, RLUSD support on the XRP Ledger, and planned custody services in Singapore.
