Standard Chartered Launches Spot Bitcoin and Ether Trading in UAE
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Written by Zoltan Vardai staff writer
Reviewed by Robert Lakin staff editor
Standard Chartered has made history by becoming the first major global bank to offer institutional access to spot Bitcoin and Ether trading in the United Arab Emirates (UAE). The multinational bank, headquartered in London, took this significant step through its entity regulated by the Dubai International Financial Centre (DIFC).
This move marks a milestone as Standard Chartered is the first global bank to provide institutional digital asset trading in the region and the first Global Systemically Important Bank (G-SIB) with such an offering.
Eligible institutional clients will gain access to spot Bitcoin (BTC) and Ether (ETH) trading through Standard Chartered’s electronic trading channels integrated into its existing platforms. This expands the bank’s regulated crypto asset offerings in the UAE, building upon its digital asset custody services launched there in September 2024.
Previously, in June, Standard Chartered entered a banking agreement with CoinMENA, enabling the crypto exchange to leverage the bank for fiat on- and off-ramps, client money accounts, and virtual account-based transaction management. Other cryptocurrency companies and trading platforms are also seeking regulatory approval to introduce digital asset offerings in the UAE.
Recent developments include:
- Capital.com revealing plans to offer spot crypto services to clients in the UAE after securing a virtual-asset license from the country’s Capital Market Authority (CMA) in August.
- Neobank Revolut receiving in-principle approval from Dubai’s Virtual Assets Regulatory Authority to provide crypto-related services in the region in July.