Standard Chartered Completes UAE Crypto Stack with Spot Trading Launch
Standard Chartered PLC (LSE:STAN; HKG:2888) has added a new layer to its UAE crypto services, allowing institutional clients to trade spot Bitcoin and Ether against the US dollar through the bank's electronic channels. The launch on September 3 marked the third part of the bank's three-part stack in the UAE, following custody and stablecoin access provided earlier this year.
The new service allows eligible institutions to execute trades through Standard Chartered's single-dealer platform, FIX API, or familiar FX interfaces. Deliverable BTC/USD and ETH/USD spot trades can be settled with the custodian of their choice, including the bank itself. The product page lists T+1 settlement and bilateral credit.
Standard Chartered's regional chief executive, Rola Abu Manneh, tied the launch to regulation, stating that 'The UAE has developed a clear digital assets regulatory framework that supports institutional participation and innovation.'