Standard Chartered Launches First Direct Bitcoin and Ether Trading for Wealthy Clients in UAE

Standard Chartered has introduced direct Bitcoin and Ether trading for eligible Professional Investors in the United Arab Emirates, allowing clients to buy and sell the two cryptocurrencies through their existing bank accounts. The bank describes the launch as a global first for itself, marking the first time it has offered cryptocurrency trading directly to wealthy clients in any market, and says it is also the first service of its kind offered by an international bank in the UAE.

The service runs on a closed-loop model, meaning custody and settlement are handled entirely within Standard Chartered's own ecosystem through Zodia Markets, the digital asset trading arm backed by the bank's SC Ventures unit. Clients need no separate crypto wallets or third-party platforms. The offering brings together the bank's wealth and retail banking arm with its corporate and investment banking division.

The launch received licensing approval from Dubai's Virtual Assets Regulatory Authority, known as VARA. Standard Chartered said it plans to expand access to more market participants beyond the initial professional investor classification, signaling broader ambitions in the UAE's regulated digital asset market.