Standard Chartered Debuts Crypto Trading for UAE Wealth — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Standard Chartered launched direct Bitcoin and Ethereum trading for Professional Investor clients in the UAE on Wednesday, calling it a global first for the bank and the first crypto trading offering from an international bank in the UAE.
- The service operates through a closed-loop model with Zodia Markets (backed by SC Ventures), with the bank handling custody and settlement end-to-end to reduce clients' exposure to third-party wallet risk.
- Standard Chartered's UAE crypto custody service went live in September 2024, and in July 2025 the bank became the first global systemically important bank (G-SIB) to offer spot BTC and ETH trading to institutional clients via its UK branch.
- Previously, crypto ETFs, structured products, and OTC derivatives were the only routes for Standard Chartered wealth clients to gain crypto exposure; the new service lets them own actual coins held by the bank.
- Rola Abu Manneh, Standard Chartered's CEO for UAE, Middle East and Pakistan, said the country was a natural choice given its regulatory environment and its role as one of the bank's four global wealth hubs; the bank plans to expand the service to other markets with no timeline.
- Geoff Kendrick, Standard Chartered's global head of digital assets research, declared "crypto winter over" in June after Bitcoin fell to ~$59,000 — a 53% drop from its October 2025 peak of $126,000; the bank maintains a $100,000 year-end BTC target.
Why it matters: Standard Chartered, classified by regulators as too-big-to-fail, is now letting Professional Investor clients in the UAE hold actual Bitcoin and Ethereum inside their bank accounts instead of ETFs or derivatives — a first for the institution. The bank still targets $100,000 Bitcoin by year-end even after a 53% slide from October 2025's $126,000 peak.
Ask SkimNews
