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Standard Chartered unlocks direct bitcoin and ether trading for affluent UAE clients
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Standard Chartered launched a crypto trading service for affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell bitcoin and ether through bank accounts. The London-based lender said the offering is the first of its kind by an international bank in the UAE. It is also a global first for Standard Chartered.
The service initially targets clients classified as professional investors. Standard Chartered manages custody and settlement in-house through a closed-loop model, so clients need no separate crypto wallets or third-party trading platforms. It combines the bank’s wealth and retail banking and corporate and investment banking businesses.
The operation runs through Zodia Markets, which is backed by the bank’s SC Ventures unit. Standard Chartered received licensing approval from Dubai’s Virtual Assets Regulatory Authority (VARA). That approval supports its digital asset strategy in a major financial hub.
Standard Chartered introduced institutional bitcoin and ether spot trading through its U.K. arm in July last year. It expanded that offering to the UAE on Sept. 3. The bank already offers eligible clients crypto exchange-traded funds, structured products and over-the-counter derivatives.
The UAE launch matters because it brings crypto trading into a regulated banking framework. Clients can trade within the bank’s ecosystem rather than relying on external exchanges. This may reduce operational risks tied to wallet management and third-party custody.
Standard Chartered plans to expand the service to other markets, but gave no timetable. The move underscores growing competition among global banks to serve wealthy clients seeking digital assets. It also follows broader crypto market shifts: diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to about 4%. GENIUS pushes yield off-chain, and the total addressable market is projected to grow to $4 billion in three years.
