Standard Chartered becomes the first international bank in the UAE to offer Bitcoin and Ether trading

Standard Chartered has become the first international bank in the UAE to let clients buy and sell Bitcoin (BTC) and Ether (ETH) straight from their bank accounts, with no exchange or separate wallet needed. Launched on October 14 under a licence from Dubai’s Virtual Assets Regulatory Authority (VARA), the service is initially limited to Professional Investor clients.

Standard Chartered introduces a regulated cryptocurrency trading solution

The new cryptocurrency trading solution integrates digital asset trading, custody, liquidity and settlement into a single service. Rather than requiring customers to transfer funds to independent cryptocurrency exchanges or manage separate wallets, the offering allows eligible investors to access Bitcoin and Ether through their existing Standard Chartered banking relationships.

Under the bank’s closed-loop operating model, custody and settlement are managed within its ecosystem. Standard Chartered said this arrangement is intended to reduce exposure to risks associated with third-party wallets while providing clients with institutional-grade operational safeguards.

The service reflects a broader shift in wealth management as digital assets become increasingly relevant to discussions about portfolio diversification. Greater regulatory clarity in several markets and growing institutional participation have contributed to interest among investors seeking exposure to cryptocurrencies through established financial institutions.

Samir Subberwal, Global Head of Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, described the launch as an important development in the bank’s digital asset strategy.

“As client interest in digital assets continues to grow, this launch represents a significant milestone for Standard Chartered as we bring digital assets into our core wealth offering,” Subberwal said.

He added that investors increasingly want more than access to the asset class, highlighting the importance of security, trust and confidence when investing through regulated financial institutions.

The cryptocurrency trading solution is intended to address those expectations by placing cryptocurrency transactions within an established banking relationship. However, the bank’s announcement does not eliminate the market risks associated with digital assets, whose prices can fluctuate significantly.

UAE becomes the first market for the bank’s new offering

The UAE will serve as the initial market for the cryptocurrency trading solution, with Standard Chartered confirming that the service will first be available to Professional Investor clients. The bank said it intends to expand the offering into additional markets over time, although it did not specify a timetable or identify the next countries in its announcement.

The UAE’s regulatory environment and growing role in digital assets were central to the decision to introduce the service there. VARA oversees virtual asset activities within its jurisdiction in Dubai, subject to the authority’s applicable regulatory framework. Standard Chartered confirmed that it had obtained licensing approval from VARA for the new offering.

Rola Abu Manneh, Chief Executive Officer for the UAE, Middle East and Pakistan at Standard Chartered, said the launch reflected the bank’s confidence in the country’s financial and regulatory environment.

“We are proud to be the first international bank in the UAE to launch a cryptocurrency trading offering,” Abu Manneh said.

She added that the country’s approach to innovation, regulatory framework and expanding digital asset sector made it a suitable location for the initiative. Abu Manneh also highlighted the UAE’s strategic importance to Standard Chartered as one of its four global wealth hubs.

The bank’s entry into cryptocurrency trading through its established wealth management infrastructure signals an effort to serve investors who want digital asset exposure while maintaining their relationship with a traditional financial institution.

For eligible clients, the cryptocurrency trading solution could simplify access to Bitcoin and Ether by consolidating trading and custody arrangements within one banking ecosystem. Nevertheless, availability remains restricted to the specified investor category at launch, rather than extending to all retail banking customers.

Cryptocurrency trading solution builds on broader digital asset strategy

The new service expands Standard Chartered’s existing range of digital asset-related investment opportunities. Before this launch, the bank already offered eligible clients access to cryptocurrency exchange-traded funds (ETFs) through its cash equities trading platform. It also provided cryptocurrency market exposure through structured products and over-the-counter (OTC) derivatives.

The cryptocurrency trading solution adds direct buying and selling of Bitcoin and Ether to those existing capabilities. This gives the bank another way to serve clients seeking exposure to digital assets, complementing investment products that provide cryptocurrency-linked returns without necessarily involving direct ownership of the underlying assets.

Standard Chartered’s wider digital asset strategy also includes custody, trading and tokenisation. Its ventures ecosystem, including Zodia Markets and Libeara, supports the development of services and infrastructure across the digital asset sector.

The bank said the latest offering draws on the combined capabilities of its WRB and CIB divisions, alongside its ventures ecosystem. This structure is intended to support growing demand for regulated digital asset services among its clients across key markets.

The expansion also reflects competition among established financial institutions to develop services that respond to changing investor preferences. As more wealth managers assess ways to incorporate digital assets into their offerings, custody arrangements, regulatory compliance and transaction security remain important considerations.

However, the bank has not disclosed the expected trading volumes, pricing structure, minimum investment requirements or the full list of eligible clients for the new service. Those details will be relevant in determining how widely the cryptocurrency trading solution is adopted among professional investors in the UAE.

For now, the launch establishes a new channel through which eligible Standard Chartered clients can access Bitcoin and Ether using their existing banking accounts. Its planned expansion into other markets will depend on the bank’s rollout strategy and the regulatory requirements applicable in each jurisdiction.

The initiative positions Standard Chartered to extend its digital asset services while retaining its focus on regulated wealth management. Whether the model gains broader traction will depend on investor demand, the practical advantages of integrated custody and trading, and the bank’s ability to expand the offering beyond its initial UAE market.