Dubai, UAE: Standard Chartered has introduced a cryptocurrency trading service for affluent clients in the United Arab Emirates, becoming the first international bank in the country to offer direct digital asset trading through its banking platform.
The launch also marks a global first for Standard Chartered as it expands its wealth management services to include cryptocurrency trading within a regulated banking environment.
The new service allows eligible clients to buy and sell Bitcoin (BTC) and Ether (ETH) directly through their existing Standard Chartered bank accounts, without requiring separate digital wallets or third-party cryptocurrency exchanges.
Regulated Cryptocurrency Trading Through Bank Accounts
The offering has received licensing approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and will initially be available to clients classified as Professional Investors in the UAE.
Standard Chartered developed the service through a collaboration between its Wealth and Retail Banking (WRB) and Corporate and Investment Banking (CIB) divisions, alongside Zodia Markets, a digital asset business backed by SC Ventures.
The platform combines cryptocurrency trading, institutional-grade custody, liquidity and settlement services within a single banking ecosystem.
Under its closed-loop operating model, Standard Chartered manages custody and settlement, reducing clients’ reliance on external wallets and third-party platforms.
The arrangement is designed to address operational and custody risks associated with cryptocurrency transactions, although investors remain exposed to digital asset price volatility and other market risks.
Growing Demand for Digital Assets Among Wealthy Investors
The launch comes as cryptocurrencies attract increasing attention from affluent and high-net-worth investors seeking additional portfolio diversification opportunities.
Greater regulatory clarity and institutional participation have encouraged financial institutions to develop structured ways for clients to access digital assets.
Samir Subberwal, Global Head of Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, described the launch as an important development in the bank’s wealth management strategy.
He said clients are increasingly seeking cryptocurrency investment opportunities through established financial institutions that offer regulatory oversight, security and operational safeguards.
According to Subberwal, integrating digital assets into the bank’s core wealth offering reflects changing investor expectations and growing interest in cryptocurrencies as an investment category.
UAE Selected as First Market for New Service
Standard Chartered has chosen the UAE as the initial market for its cryptocurrency trading service, citing the country’s regulatory framework, support for financial innovation and expanding digital asset industry.
Rola Abu Manneh, Chief Executive Officer for the UAE, Middle East and Pakistan at Standard Chartered, highlighted the country’s importance to the bank’s international wealth management operations.
She said the UAE’s approach to digital asset regulation and innovation made it a suitable location for introducing the service.
The UAE is also one of Standard Chartered’s four global wealth hubs, reinforcing its strategic role in the bank’s international operations.
Following the initial launch for eligible Professional Investors in the UAE, Standard Chartered plans to explore opportunities to introduce the offering in additional markets.
Expanding Standard Chartered’s Digital Asset Services
The cryptocurrency trading platform adds to Standard Chartered’s existing digital asset investment products.
The bank already provides eligible wealth clients with access to cryptocurrency exchange-traded funds (ETFs) through its cash equities trading platform.
Clients can also gain cryptocurrency market exposure through selected structured investment products and over-the-counter (OTC) derivatives.
The new service extends these capabilities by enabling eligible investors to trade Bitcoin and Ether directly through their banking accounts.
Beyond wealth management, Standard Chartered continues developing digital asset infrastructure covering custody, trading and tokenisation.
Its broader digital asset ecosystem includes Zodia Markets and Libeara, which support different aspects of digital asset trading and tokenisation.
By combining these services with its existing banking infrastructure, Standard Chartered aims to meet growing demand for regulated cryptocurrency investment and financial services.
The UAE launch reflects the increasing involvement of traditional financial institutions in digital asset markets, particularly as banks respond to investor demand for cryptocurrency access through established banking relationships.
