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Standard Chartered has launched a cryptocurrency trading solution that allows affluent clients to access digital assets through the bank's platform. The launch is a global first for the bank and the first offering of its kind by an international bank in the UAE.
Eligible affluent clients will be able to buy and sell Bitcoin (BTC) and Ether (ETH) directly through their existing Standard Chartered bank accounts, without the need for separate wallets or third-party platforms. Transactions will be executed within the bank's ecosystem, with the bank managing end-to-end custody and settlement through a closed-loop model, reducing exposure to third-party wallet risks.
The solution was developed through a collaboration between the bank's Wealth and Retail Banking (WRB) and Corporate and Investment Banking (CIB) businesses, alongside SC Ventures-backed Zodia Markets, and is regulated by the Virtual Assets Regulatory Authority (VARA). It combines institutional-grade custody, liquidity and client access within a single digital asset ecosystem.
Standard Chartered has received licensing approval from VARA in the UAE. The offering will first be made available to Professional Investor clients in the UAE, with plans to expand to other markets over time.
Samir Subberwal, Global Head, Wealth Solutions, Retail Products, Data & Analytics, Standard Chartered
Samir Subberwal, Global Head, Wealth Solutions, Retail Products, Data & Analytics, Standard Chartered said:
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. With digital assets moving into mainstream wealth conversations, clients are increasingly looking not only for access, but also for the security, trust and confidence that comes from investing through a regulated and trusted institution. As a leading international wealth manager, we remain focused on delivering innovative solutions that help clients capture investment opportunities in a rapidly evolving market.
Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan, Standard Chartered
Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan, Standard Chartered commented:
We are proud to be the first international bank in the UAE to launch a cryptocurrency trading offering. The UAE was a natural choice for this launch, given the country’s forward-looking approach to innovation, strong regulatory environment and growing leadership in digital assets. This also reflects the strategic importance of the UAE within our network as one of our four global wealth hubs.
The launch builds on the bank's existing capabilities, which include access to cryptocurrency ETFs through its cash equities trading platform and, for eligible clients, cryptocurrency market exposure through structured products and OTC derivatives. Its wider digital assets proposition spans custody, trading and tokenisation, extended through its ventures ecosystem including Zodia Markets and Libeara.
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