Standard Chartered launched a new cryptocurrency trading service in the UAE on October 14, allowing eligible Professional Investor clients to buy and sell Bitcoin and Ethereum directly through their existing bank accounts. The service brings crypto transactions into the bank’s regulated financial framework, with custody and settlement managed internally.
The bank said the launch marks a global first for Standard Chartered and represents the first service of its type offered by an international bank in the UAE.
Through the new service, clients can access Bitcoin (BTC) and Ethereum (ETH) without creating separate digital wallets or signing up with third-party trading platforms. Standard Chartered manages the entire process, including transaction execution, custody, and settlement, within its own closed-loop ecosystem.
The model is designed to reduce potential risks associated with external wallets and cryptocurrency service providers. By consolidating trading and asset management within the bank’s infrastructure, clients can access the supported cryptocurrencies without moving assets between multiple platforms.
Standard Chartered said the service integrates institutional-grade custody, liquidity, and client access into a unified digital-asset offering. The initiative was developed jointly by its Wealth and Retail Banking and Corporate and Investment Banking divisions, with support from Zodia Markets, backed by SC Ventures.
Samir Subberwal, the bank’s Global Head of Wealth Solutions, Retail Products, Data & Analytics, described the launch as a significant development in incorporating digital assets into Standard Chartered’s core wealth services. He noted that demand for cryptocurrency exposure among clients continues to increase.
Several operational details remain undisclosed. The bank has not provided information about trading fees, minimum investment amounts, transaction limits, expected volumes, or the number of eligible customers. It has also not clarified whether clients will be able to transfer purchased cryptocurrencies to wallets outside its ecosystem.
UAE Regulatory Approval Limits Initial Access
Standard Chartered confirmed that Dubai’s Virtual Assets Regulatory Authority (VARA) granted licensing approval for the service. Access during the initial phase is restricted to eligible Professional Investor clients in the UAE.
According to the bank, the UAE’s regulatory framework, focus on innovation, and growing digital-asset sector influenced its decision to introduce the service in the country.
Rola Abu Manneh, Standard Chartered’s Chief Executive Officer for the UAE, Middle East and Pakistan, highlighted the launch as an important step in the bank’s regional digital-asset strategy.
The regulatory approval provides the authorised framework for the service, while the Professional Investor requirement determines which customers can participate. The launch therefore expands cryptocurrency access within the bank’s wealth management business rather than introducing a service for all retail customers.
Standard Chartered Plans Potential International Expansion
Standard Chartered intends to expand its cryptocurrency trading service into additional markets, although it has not announced specific destinations or a timetable. Bitcoin and Ethereum remain the only assets identified for the UAE launch.
The new service builds on the bank’s existing digital-asset investment options. Its wealth platform already offers cryptocurrency exposure through exchange-traded funds (ETFs) on its cash-equities platform, as well as structured products and over-the-counter derivatives.
Adding direct cryptocurrency trading provides eligible clients with another way to access digital assets through their established banking relationships.
Future announcements will determine which markets may receive the service next and whether Standard Chartered plans to introduce additional cryptocurrencies or expand access to other categories of clients.
