Standard Chartered has launched cryptocurrency trading for affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell Bitcoin and Ethereum directly through their existing bank accounts.
The October 14 launch marks the bank’s first cryptocurrency trading offering for wealth clients globally and the first such service introduced by an international bank in the UAE.
The offering has received licensing approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and initially targets customers classified as Professional Investors.
Transactions, custody and settlement are managed within Standard Chartered’s banking infrastructure, eliminating the requirement for customers to open external cryptocurrency exchange accounts.
Bitcoin and Ethereum Trading Integrated Into Bank Accounts
The service was developed through a collaboration between Standard Chartered’s Wealth and Retail Banking and Corporate and Investment Banking divisions, alongside SC Ventures-backed Zodia Markets.
Eligible clients can purchase and sell BTC and ETH through their existing banking relationship, with institutional-grade liquidity and custody integrated into the execution process.
The platform operates through a closed-loop structure in which Standard Chartered manages the complete transaction lifecycle. Cryptocurrency holdings remain within the bank’s custody arrangements rather than being transferred to customers’ external wallets.
Trading prices incorporate spreads of up to 2%, based on reported product disclosures. Individual orders range from $50 to $50,000, or their equivalent in UAE dirhams, with no additional transaction or custody fees.
Ayesha Abbas, Standard Chartered’s Head of Affluent and Wealth Solutions for Europe, the Middle East and Africa, described the offering as a way for eligible investors to incorporate cryptocurrencies into their portfolios through familiar banking services while maintaining established governance and oversight standards.
The bank already provides eligible wealth clients with access to cryptocurrency exchange-traded funds, structured investment products and over-the-counter derivatives.
Standard Chartered Expands Beyond Institutional Crypto Trading
The launch extends Standard Chartered’s existing digital-asset business into its wealth management division.
In September, the bank introduced institutional Bitcoin and Ether spot trading in the UAE through its Dubai International Financial Centre entity, regulated by the Dubai Financial Services Authority.
That service allows institutional investors to execute cryptocurrency trades through the bank’s existing electronic trading platforms and settle with approved custodians.
The new affluent-client offering operates under VARA authorization, a separate regulatory framework, with custody and settlement integrated into the bank’s wealth management ecosystem.
Standard Chartered has also been consolidating its digital-asset infrastructure. In May, it moved to acquire Zodia Custody’s regulated custody operations, bringing institutional digital-asset services closer to its core banking business.
UAE Attracts More Regulated Crypto Services
Standard Chartered’s launch comes as international financial institutions and cryptocurrency exchanges expand their regulated operations in the UAE.
On October 12, Kraken secured full UAE regulatory approval, clearing the way for cryptocurrency trading, AED funding and institutional services through its Dubai-licensed entity.
UAE lender RAKBANK has also integrated cryptocurrency trading into its mobile banking application through Bitpanda, offering retail customers access to digital assets using dirhams.
Standard Chartered’s offering differs by initially restricting access to Professional Investors rather than the wider retail market.
The bank plans to expand its cryptocurrency wealth services into additional international markets, although it has not disclosed the next jurisdictions or a rollout timetable.
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