Standard Chartered has launched a first-of-its-kind cryptocurrency trading solution, allowing affluent clients to trade digital assets securely through the bank's platform. This marks a global first for the bank and the first such offering by an international bank in the UAE.
The new solution is designed to meet growing demand from high-net-worth investors looking to diversify their portfolios with digital assets. It provides a safer, more structured way to access digital assets through a trusted banking environment. The offering is enabled by a strategic collaboration between the bank's Wealth and Retail Banking (WRB) and Corporate and Investment Banking (CIB) businesses, alongside SC Ventures-backed Zodia Markets, and is regulated by the Virtual Assets Regulatory Authority (VARA).
Eligible clients will be able to buy and sell Bitcoin (BTC) and Ether (ETH) directly through their existing Standard Chartered bank accounts. The bank manages end-to-end custody and settlement through a closed-loop model, reducing exposure to third-party wallet risks. This integration allows clients to access digital assets through an existing banking relationship while benefiting from institutional-grade custody and operational safeguards.
Samir Subberwal, Global Head of Wealth Solutions at Standard Chartered, highlighted the significance of the launch, stating that clients are increasingly looking for secure and trusted ways to invest in digital assets. The bank has received licensing approval from VARA in the UAE, with the offering initially available to Professional Investor clients in the UAE and plans to expand to other markets over time.