Standard Chartered has launched a cryptocurrency trading service for eligible wealthy clients in the United Arab Emirates. The offering allows professional investors to buy and sell Bitcoin and Ether using their existing bank accounts, without opening an account at a crypto exchange. The bank confirmed the launch on October 14.
Standard Chartered offers direct Bitcoin and Ether trading
Standard Chartered announced that the service is initially available to clients classified as Professional Investors in the UAE. The bank said it had secured licensing approval from Dubai’s Virtual Assets Regulatory Authority (VARA). It described the launch as its first crypto trading offering for affluent clients globally.
The product brings together Standard Chartered’s wealth management and investment banking teams and Zodia Markets, a digital asset company backed by SC Ventures. Customers can place trades through their existing banking relationship rather than maintain separate accounts with third-party platforms. The initial offering covers Bitcoin (BTC) and Ether (ETH) only.
Bank to handle cryptocurrency custody and settlement
Standard Chartered will manage cryptocurrency custody and settlement within its own banking ecosystem. The bank calls this a closed-loop model, meaning customers do not need external wallets to complete transactions. It said the arrangement reduces exposure to risks linked to third-party wallets.
However, the bank did not disclose trading fees, minimum investment amounts or transaction limits in its October 14 announcement. It also did not say whether customers would be able to withdraw crypto to private wallets later. The announcement focused on buying and selling the two assets through the bank’s platform.
Samir Subberwal, the bank’s global head of wealth solutions, said investors want regulated access alongside existing banking services. He described “security, trust and confidence” as factors clients seek when investing in digital assets. His comments accompanied the bank’s plans to include direct crypto trading in its wider wealth products.
UAE approval precedes plans for wider rollout
Rola Abu Manneh, Standard Chartered’s chief executive for the UAE, Middle East and Pakistan, called the bank “the first international bank in the UAE to launch a cryptocurrency trading offering.” She linked the decision to launch in the country to its regulatory framework. She also identified the UAE as one of Standard Chartered’s four global wealth hubs.
The service is currently intended for UAE Professional Investor clients, rather than all retail banking customers. Standard Chartered said it intends to expand the offering to additional markets, but did not name any destinations or provide a launch schedule. Its existing wealth products already include crypto exchange-traded funds and other investments tied to digital asset prices.
Launch adds to institutional crypto services
The new service follows Standard Chartered’s institutional Bitcoin and Ether trading launch in the UAE in September. That service runs through its Dubai International Financial Centre branch and allows institutions to settle trades with a custodian of their choice. The new wealth product instead keeps custody and settlement within the bank’s system. The bank first introduced institutional Bitcoin and Ether spot trading through its UK branch in July 2025.
Standard Chartered also introduced custody services for Ripple’s RLUSD stablecoin in October. That offering serves eligible institutions through its DIFC branch. The bank is separately working with Ripple and LMAX Group on plans to let clients use RLUSD as trading collateral, subject to further testing and approvals.
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