Key facts
- Standard Chartered launched direct Bitcoin and Ether trading for affluent UAE clients on Wednesday.
- The service is available to Professional Investor clients under licensing approval from Dubai's Virtual Assets Regulatory Authority (VARA).
- Clients can buy and sell BTC and ETH directly through existing bank accounts.
- Custody and settlement are handled end-to-end by Standard Chartered via a closed-loop model with Zodia Markets.
- The bank plans to expand the service to other markets.
Standard Chartered has launched direct Bitcoin and Ether trading for its Professional Investor clients in the United Arab Emirates, marking a global first for the bank. The service, which received licensing approval from Dubai's Virtual Assets Regulatory Authority (VARA), allows eligible clients to buy and sell BTC and ETH directly through their existing bank accounts. Standard Chartered handles custody and settlement end-to-end via a closed-loop model developed with Zodia Markets, a digital asset trading firm backed by SC Ventures. The bank plans to expand this offering to other markets.