Standard Chartered rolled out a cryptocurrency trading service in the UAE on October 14, giving eligible Professional Investor clients the ability to purchase and sell Bitcoin and Ethereum through their existing bank accounts. The service integrates crypto trading into a regulated banking framework, with custody and settlement managed within the bank’s own ecosystem.
Standard Chartered called the launch a global first for the institution and said it was the first service of its kind introduced by an international bank in the UAE.
Under the new offering, clients can trade Bitcoin (BTC) and Ethereum (ETH) directly through their existing Standard Chartered accounts. They do not need to open separate crypto wallets or use external trading platforms. The bank handles transactions, custody, and settlement within its own closed-loop infrastructure.
This approach is intended to reduce the risks associated with third-party wallets and external service providers. Keeping trading and asset management within a single banking environment also removes the need for clients to transfer their holdings between different providers to complete these processes.
The bank said the service combines institutional-grade custody, liquidity, and client access in one digital-asset platform. Its development involved Standard Chartered’s Wealth and Retail Banking and Corporate and Investment Banking divisions, together with Zodia Markets, a company backed by SC Ventures.
Samir Subberwal, Standard Chartered’s Global Head of Wealth Solutions, Retail Products, Data & Analytics, said the launch represents a major step in incorporating digital assets into the bank’s core wealth offering as client interest in cryptocurrencies continues to grow.
However, the announcement did not reveal the applicable trading fees, minimum investment requirements, transaction limits, expected trading activity, or the number of clients who may use the service. Details about the execution process and whether customers can withdraw purchased cryptocurrencies to external wallets also remain undisclosed.
Standard Chartered Secures UAE Regulatory Approval
Standard Chartered said it received licensing approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to introduce the service. The initial rollout is limited to eligible Professional Investor clients in the UAE.
The bank identified the country’s innovation-friendly approach, regulatory environment, and growing digital-asset market as key reasons for selecting the UAE.
Rola Abu Manneh, Standard Chartered’s Chief Executive Officer for the UAE, Middle East and Pakistan, highlighted the launch as part of the bank’s regional digital-asset development.
The regulatory approval establishes the framework under which the service operates, while the Professional Investor requirement limits access to a specific client group. Rather than opening cryptocurrency trading to the general public, Standard Chartered is adding the service to its existing wealth and banking relationships.
More Markets Could Follow
Standard Chartered plans to extend the service to other markets in the future, although it has not disclosed which countries will be next or when expansion might begin. For now, the service supports Bitcoin and Ethereum trading for eligible Professional Investors in the UAE.
The new offering expands the bank’s existing range of digital-asset investment options. Standard Chartered already provides cryptocurrency exposure through exchange-traded funds (ETFs) available on its cash-equities platform, along with structured products and over-the-counter derivatives.
Direct trading adds another route for eligible clients to access the cryptocurrency market through their existing banking relationships.
The next significant development will be confirmation of any additional markets, together with further information about the service’s availability, trading terms, and potential expansion beyond Bitcoin and Ethereum.
