Standard Chartered Launches Direct Crypto Trading for UAE Clients
- Standard Chartered now enables affluent clients in the UAE to trade bitcoin and ether directly through their bank accounts.
- The service is powered by a partnership with Zodia Markets, offering crypto trading, custody, and settlement services.
- Dubai’s Virtual Assets Regulatory Authority (VARA) has approved the service, which initially supports only bitcoin and ether.
- Clients are not required to open an account at a centralized cryptocurrency exchange or manage a separate digital wallet.
- This is Standard Chartered’s first introduction of such a service globally and marks it as the first international bank to offer this in the UAE.
Standard Chartered’s new offering allows wealthy clients in the UAE to engage in cryptocurrency trading without needing external exchanges or wallets, enhancing convenience and security by leveraging trusted banking infrastructure. This initiative aligns with growing client interest in digital assets and positions Standard Chartered as a pioneer among international banks in the region’s crypto market.
By partnering with Zodia Markets, Standard Chartered integrates professional crypto trading systems into its services, underscoring its commitment to innovative financial solutions within a regulated framework. (Source)
