Standard Chartered Launches Direct Crypto Trading for Wealthy UAE Clients
The London-based bank is letting professional investors in the UAE buy and sell bitcoin and ether through their existing bank accounts, with custody kept in-house.
AfroEuropa Newsroom
AfroEuropa desk
Standard Chartered has begun offering direct cryptocurrency trading to affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell bitcoin and ether through their existing bank accounts, according to reporting from BitKE and Decrypt.
The service is initially available to clients classified as professional investors. Standard Chartered described it as the first offering of its kind from an international bank operating in the UAE.
The launch follows the bank's receipt of licensing approval from Dubai's Virtual Assets Regulatory Authority (VARA). Standard Chartered will handle custody and settlement internally through a closed-loop model, which removes the need for separate crypto wallets or third-party trading platforms.
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