Standard Chartered Opens Crypto Trading Services to UAE Clients

Standard Chartered officially introduced cryptocurrency trading in the UAE on October 14, giving eligible Professional Investor clients direct access to Bitcoin and Ethereum through their existing bank accounts. The service places crypto trading within the bank’s regulated financial environment, with custody and settlement managed through its internal infrastructure.

The bank said the launch is a first for Standard Chartered globally and the first comparable service introduced by an international bank in the UAE.

Under the new arrangement, eligible clients can buy and sell Bitcoin (BTC) and Ethereum (ETH) without opening separate crypto wallets or using third-party trading platforms. Standard Chartered manages transactions, custody, and settlement within its closed-loop ecosystem.

This structure aims to reduce risks associated with external wallets and independent cryptocurrency providers. By keeping trading and asset custody within one banking system, the service allows clients to manage their digital-asset transactions without transferring funds between multiple platforms.

Standard Chartered said the offering brings together institutional-grade custody, liquidity, and customer access in a single digital-asset environment. The service was developed in partnership across the bank’s Wealth and Retail Banking and Corporate and Investment Banking divisions, with involvement from SC Ventures-backed Zodia Markets.

Samir Subberwal, Standard Chartered’s Global Head of Wealth Solutions, Retail Products, Data & Analytics, called the launch an important step in incorporating digital assets into the bank’s core wealth management offering. He pointed to growing interest in cryptocurrencies among the bank’s clients.

The bank has not yet disclosed key commercial details, including trading fees, minimum investment requirements, transaction limits, expected volumes, or the number of clients eligible for the service. It also remains unclear whether customers will be able to transfer purchased cryptocurrencies to external wallets.

UAE Regulatory Approval Defines the Service’s Initial Reach

Standard Chartered confirmed that it obtained licensing approval from Dubai’s Virtual Assets Regulatory Authority (VARA). Initially, access will be restricted to eligible Professional Investor clients in the UAE.

The bank cited the country’s regulatory framework, commitment to innovation, and expanding digital-asset industry as factors behind its decision to launch the service there.

Rola Abu Manneh, Standard Chartered’s Chief Executive Officer for the UAE, Middle East and Pakistan, described the launch as part of the bank’s wider regional digital-asset ambitions.

The approval places the service within an authorised UAE regulatory framework, while the Professional Investor requirement limits participation to eligible clients. This means the launch expands crypto access through the bank’s wealth management business rather than opening the service to the general retail market.

Bank Signals Plans to Expand Crypto Trading

Standard Chartered intends to introduce the service in additional markets over time, although no countries or launch dates have been announced. For now, Bitcoin and Ethereum are the two supported assets identified for the UAE rollout.

The new trading service complements the bank’s existing digital-asset investment products. Its wealth platform already offers cryptocurrency exposure through exchange-traded funds (ETFs) on its cash-equities platform, along with structured products and over-the-counter derivatives.

Direct trading adds another option for eligible clients who want to access cryptocurrencies through their existing banking relationships.

Future updates are expected to clarify which markets Standard Chartered may enter next, whether more digital assets will be supported, and if access will eventually extend to additional customer groups.