Standard Chartered Opens Bitcoin Trading to UAE Wealth Clients — SkimNews
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- 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 country.
- The service operates under licensing approval from Dubai's Virtual Assets Regulatory Authority (VARA), with the bank handling custody and settlement end-to-end through a closed-loop model built with SC Ventures-backed Zodia Markets.
- Wealth clients can now buy and sell BTC and ETH directly through their existing bank accounts inside Standard Chartered's own ecosystem, eliminating the need for separate wallets or third-party platforms.
- Standard Chartered's crypto business previously catered only to institutions: it became the first global systemically important bank to offer spot Bitcoin and Ethereum trading to institutional clients in July 2025 via its UK branch, then brought that desk to the UAE's Dubai International Financial Centre last month.
- Wealth clients previously had only indirect crypto exposure at the bank through crypto ETFs, structured products, and OTC derivatives; the new service lets them own the actual coins held by the bank.
- The bank has been historically bullish on crypto, with global head of digital asset research Geoff Kendrick declaring crypto winter over in June after Bitcoin fell to ~$59,000—a 53% drop from its October 2025 peak of $126,000—while maintaining a $100,000 year-end target for BTC.
Why it matters: Standard Chartered's Professional Investor clients in the UAE can now own Bitcoin and Ethereum directly through their bank accounts, with custody and settlement handled inside the bank's own ecosystem under VARA licensing. The bank framed the launch as a global first and a step toward extending crypto access to its other global wealth markets, though it offered no expansion timeline.
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