Standard Chartered has launched a service allowing wealthy clients in the UAE to trade Bitcoin and Ethereum directly via their bank accounts. The offering is available to professional investors and operates under a license from Dubai's Virtual Assets Regulatory Authority.
The bank utilizes a closed-loop model for trading, custody, and settlement, aiming to minimize third-party risks. The product was developed in collaboration with Zodia Markets, a digital asset firm supported by the bank's venture arm, SC Ventures.
This initiative marks the first time an international bank has offered crypto trading in the UAE. Previously, the bank provided only indirect exposure through ETFs and derivatives, but the new service allows clients to hold the actual digital assets.
The bank previously expanded its institutional crypto desk to the Dubai International Financial Centre last month. Its custody services were launched in the UAE in September 2024 and later in the European Union through a Luxembourg entity.
