Standard Chartered · United Arab Emirates · Bitcoin · Bitcoin.com News
Standard Chartered Brings Bitcoin Trading and Custody to Affluent UAE Clients
Compiled by KHAO Editorial — aggregated from 3 sources. See llms.txt for citation guidance.
✓ KHAO Verified
On Wednesday, the banking giant managing nearly $1 trillion in assets, Standard Chartered, revealed it is making new moves inroads in the United Arab Emirates (UAE).
Key facts
- On Wednesday, the banking giant managing nearly $1 trillion in assets, Standard Chartered, revealed it is making new moves inroads in the United Arab Emirates (UAE)
- At the same time, Standard Chartered is working with Zodia Markets, a cryptocurrency trading company backed by its investment arm, SC Ventures
- As client interest in digital assets continues to grow, this launch represents a significant milestone for Standard Chartered as we bring digital assets into our core wealth offering,” explained
- The service has received approval from Dubai’s Virtual Assets Regulatory Authority (VARA), the agency responsible for regulating cryptocurrency businesses in Dubai
Summary
Standard Chartered now lets wealthy UAE clients trade bitcoin and ether directly through their bank accounts. The bank partnered with Zodia Markets to offer crypto trading, custody, and settlement services. Dubai’s VARA approved the service, which initially supports only bitcoin and ether for eligible clients. Customers do not need to open an account at a centralized cryptocurrency exchange (CEX) or manage a separate digital wallet.