Standard Chartered has introduced a digital asset trading service tailored for eligible affluent clients residing in the United Arab Emirates. Announced on October 14, the feature enables professional investors to execute purchases and sales of Bitcoin and Ether directly through their current bank accounts, eliminating the need to register with a separate cryptocurrency exchange.
Standard Chartered offers direct Bitcoin and Ether trading
The bank confirmed that this new service is presently restricted to clients who hold Professional Investor status in the UAE. Having obtained regulatory clearance from Dubai’s Virtual Assets Regulatory Authority (VARA), Standard Chartered noted that this marks its inaugural crypto trading option for wealthy customers worldwide.
This initiative bridges Standard Chartered’s investment banking and wealth management divisions with Zodia Markets, a digital asset firm supported by SC Ventures. Rather than relying on third-party platforms, users execute orders via their established banking channels. At present, the platform exclusively supports Bitcoin (BTC) and Ether (ETH).
Bank to handle cryptocurrency custody and settlement
Within its proprietary banking environment, Standard Chartered oversees both transaction settlement and cryptocurrency custody. Characterized as a closed-loop system, this arrangement removes the requirement for external digital wallets during transactions. The bank stated that this framework helps mitigate vulnerabilities associated with external wallet providers.
The October 14 statement omitted details regarding transaction limits, trading fees, and minimum investment thresholds. It similarly refrained from clarifying if account holders will eventually be permitted to transfer their digital assets to private wallets, focusing entirely on buying and selling Bitcoin and Ether directly via the bank’s interface.
Samir Subberwal, global head of wealth solutions at the bank, remarked that investors are actively seeking regulated pathways alongside traditional banking services. He pointed to “security, trust and confidence” as core priorities for clients entering the digital asset space, aligning with the institution’s strategy to integrate direct crypto trading into broader wealth management offerings.
UAE approval precedes plans for wider rollout
Rola Abu Manneh, chief executive for the UAE, Middle East and Pakistan at Standard Chartered, stated that the organization is “the first international bank in the UAE to launch a cryptocurrency trading offering.” She attributed the regional debut to the country’s progressive regulatory landscape and noted that the UAE serves as one of the firm’s four primary global wealth centers.
Accessibility is currently limited to UAE Professional Investor accounts rather than the general retail base. Although Standard Chartered expressed plans to introduce the capability to other regions, it did not specify target locations or a timeline for expansion. The bank’s existing wealth portfolio already encompasses digital asset-linked investments, including cryptocurrency exchange-traded funds.
Launch adds to institutional crypto services
This retail wealth offering arrives on the heels of Standard Chartered’s institutional Bitcoin and Ether trading debut in the UAE during September. Operated via its Dubai International Financial Centre branch, that institutional service permits clients to settle transactions with a custodian of their choosing, whereas the wealth service keeps settlement and custody internal. Furthermore, the bank initially rolled out spot Bitcoin and Ether trading for institutions through its UK branch in July 2025.
Additionally, Standard Chartered unveiled custody support for Ripple’s RLUSD stablecoin in October, catering to qualified institutions via its DIFC branch. The financial institution is also collaborating with LMAX Group and Ripple to explore using RLUSD as trading collateral, pending subsequent testing phases and regulatory approvals.
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