Standard Chartered has launched direct Bitcoin and Ether trading for Professional Investor clients in the United Arab Emirates, making it the first international bank to offer spot cryptocurrency trading in the country. Approved by Dubai's Virtual Assets Regulatory Authority, the service operates under a closed-loop system built with Zodia Markets, executing custody and settlement in-house directly through existing bank accounts.
UAE launch and global expansion plans
- ▪Standard Chartered launched a cryptocurrency trading service in the United Arab Emirates on October 14, 2026, becoming the first international bank to offer direct crypto trading in the region.
- ▪Standard Chartered plans to expand its direct cryptocurrency trading offering to additional global markets over time.
- ▪The United Arab Emirates cryptocurrency launch marks the first time Standard Chartered has offered direct cryptocurrency trading to wealthy clients within its global wealth business.
Custody mechanism and external wallets
- ▪Standard Chartered executes, settles, and holds custody of client cryptocurrency trades within its internal ecosystem through a closed-loop system, eliminating the need for separate external crypto wallets.
- ▪Standard Chartered's announcement did not specify whether clients will be permitted to withdraw purchased digital assets to external self-custody wallets.
Eligibility for Professional Investors
- ▪Standard Chartered enables eligible Professional Investor clients to buy and sell cryptocurrency directly using their existing bank accounts without registering on third-party platforms.
- ▪Standard Chartered's cryptocurrency trading service in the United Arab Emirates is initially available exclusively to clients classified as Professional Investors.
VARA regulatory approval and scope
- ▪Dubai's Virtual Assets Regulatory Authority granted regulatory approval to Standard Chartered to launch its cryptocurrency trading service in the United Arab Emirates.
- ▪The Virtual Assets Regulatory Authority license applies to Dubai's mainland and free zones, while excluding the Dubai International Financial Centre which operates under distinct financial regulations.
Supported crypto assets and prior offerings
- ▪Standard Chartered's cryptocurrency trading platform in the United Arab Emirates supports direct spot buying and selling of Bitcoin and Ether.
- ▪Prior to introducing direct spot trading, Standard Chartered provided client exposure to digital assets through cryptocurrency exchange-traded funds, structured products, and over-the-counter derivatives.
Digital asset ventures
- ▪Standard Chartered developed its cryptocurrency trading service through a collaboration between its Wealth and Retail Banking and Corporate and Investment Banking divisions alongside SC Ventures-backed Zodia Markets.
- ▪Standard Chartered extends its wider digital assets business covering custody, trading, and tokenisation through its ventures arm via Zodia Markets and Libeara.
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