Standard Chartered Opens Bitcoin, Ether Trading to UAE Clients
The bank’s new service lets eligible professional investors buy and sell bitcoin and ether through existing accounts, without separate crypto wallets.
Key takeaways
- Eligible UAE professional investors can trade bitcoin and ether through bank accounts.
- Standard Chartered will handle custody and settlement within its own ecosystem.
Standard Chartered has launched bitcoin and ether trading for affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell through their existing bank accounts.
The service will initially be limited to clients classified as professional investors. Standard Chartered said it is the first service of its kind from an international bank in the UAE, and its first direct crypto trading offer for wealthy clients globally.
The bank will handle custody and settlement within its own system, so clients do not need separate crypto wallets or third-party trading platforms. The service has licensing approval from Dubai’s Virtual Assets Regulatory Authority.
Standard Chartered said it plans to expand the service to other markets but gave no timetable.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
