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Standard Chartered has introduced a cryptocurrency trading service for eligible wealthy clients in the United Arab Emirates, giving them access to Bitcoin and Ether directly through their existing banking relationships.
The service has received approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and will initially be available to Professional Investor clients in the UAE, according to the bank.
Through the new offering, customers can buy and sell Bitcoin (BTC) and Ether (ETH) without opening accounts with external cryptocurrency exchanges or managing their own digital wallets.
Standard Chartered will oversee custody, transaction processing and settlement within its banking ecosystem, creating a more integrated route for clients seeking exposure to digital assets.
The bank said the launch marks its first cryptocurrency trading service for affluent wealth clients globally and represents the first offering of its kind from an international bank in the UAE.
The service was developed jointly by Standard Chartered’s Wealth and Retail Banking and Corporate and Investment Banking divisions. The bank is also working with Zodia Markets, a digital asset company backed by SC Ventures, Standard Chartered’s innovation and venture arm.
Standard Chartered said it intends to expand the service into additional markets, although it has not disclosed which countries are being considered or when further launches could take place.
Crypto trading integrated into existing wealth accounts
Eligible clients can trade Bitcoin and Ether using their existing Standard Chartered accounts, removing the need to transfer funds or digital assets between multiple platforms.
The service operates through a closed-loop model in which Standard Chartered manages trading-related transactions, custody and settlement within its own infrastructure.
According to the bank, the structure is intended to limit risks linked to third-party wallets while providing clients with institutional-grade custody and operational controls.
Zodia Markets will support the offering with its digital asset market capabilities, working alongside Standard Chartered’s wealth management and investment banking businesses.
The launch further strengthens the role of regulated financial institutions in providing cryptocurrency access to professional and high-net-worth investors in the UAE, as digital assets become more closely integrated with traditional wealth management services.
