Standard Chartered Launches Cryptocurrency Trading for Affluent Clients
Standard Chartered has launched a new cryptocurrency trading solution for affluent clients. It will let them buy and sell digital assets via the Bank’s platform. The launch is a global first for Standard Chartered and the first cryptocurrency trading offering by an international bank in the UAE. The new solution will give eligible clients a secure and structured way to access digital assets through current banking relationship.
Crypto Trading Into Banking
As digital assets get traction among institutional and high-net-worth investors, Standard Chartered strives to manage growing regulated access demands for cryptocurrencies. The Bank’s latest offering integrates digital asset custody, liquidity and client access in one ecosystem. The solution blends Standard Chartered’s Wealth and Retail Banking (WRB) and Corporate and Investment Banking (CIB) businesses, with SC Ventures-backed Zodia Markets.
Trade Bitcoin and Ether
Eligible affluent clients may buy and sell Bitcoin (BTC) and Ether (ETH) through their current Standard Chartered bank accounts. They will not need separate wallets or third-party trading platforms. The Bank will manage custody and settlement via a closed-loop model within its ecosystem. It will reduce exposure to risks with third-party wallets and provide institutional-grade custody and operational safeguards. Standard Chartered has received licensing approval from VARA in the UAE. The Bank will initially make the offering available to Professional Investor clients in the country. It has plans to expand into other markets over time.
What Executives Said
Samir Subberwal, Global Head of Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, said the launch marks an important step to bring digital assets into the Bank’s core wealth offering. He stressed that affluent clients want more than market access. They also expect security, trust and confidence when investing in digital assets. The Bank strives to meet these expectations through solutions that help clients access opportunities in a rapidly evolving market.
Rola Abu Manneh, CEO for the UAE, Middle East and Pakistan at Standard Chartered, stressed the UAE’s role as the launch market. She pointed to the country’s approach to innovation, regulatory environment, and booming position in digital assets. She also noted the UAE’s importance to Standard Chartered as one of its four global wealth hubs.
About Standard Chartered
Standard Chartered is a British multinational bank headquartered in London. It was formed in 1969 through the merger of the Chartered Bank of India, Australia, and China (founded in 1853) and the Standard Bank of British South Africa (founded in 1862). The bank operates in 53 markets with over 83,000 employees. Its services include corporate and investment banking, wealth management, and treasury operations.
Wrapping Up
Standard Chartered’s new trading solution brings Bitcoin and Ether trading into its current banking ecosystem for eligible affluent clients. The launch expands the Bank’s digital asset offering and strengthens its intensity on regulated access to cryptocurrencies.
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