Standard Chartered Bank launches institutional spot bitcoin and Ethereum trading services in United Arab Emirates
Standard Chartered, a London-based multinational bank, has launched spot bitcoin (BTC) and Ethereum (ETH) trading services for institutional clients based in the United Arab Emirates (UAE) under its entity regulated by the Dubai International Financial Center (DIFC).
The bank said in a media announcement on Thursday that the move made Standard Chartered the first global bank in the region to provide institutional-level digital asset trading and the first global systemically important bank (G-SIB) to provide such services.
Eligible institutional customers will access spot Bitcoin and Ethereum transactions through Standard Chartered Bank's electronic trading channels, which have been integrated into the bank's existing platforms. The move expands Standard Chartered Bank's range of regulated digital asset products in the region. Previously, Standard Chartered Bank launched digital asset custody services in United Arab Emirates in September 2024.
In June this year, Standard Chartered Bank reached a bank cooperation agreement with cryptocurrency exchange CoinMENA, allowing the exchange to use Standard Chartered Bank to support legal currency deposits and withdrawals, customer fund accounts and transaction management based on virtual accounts.
Other cryptocurrency companies and trading platforms are also seeking regulatory approval to launch digital asset-related products in the United Arab Emirates. In August, trading platform Capital.com announced plans to provide spot cryptocurrency services to customers in the United Arab Emirates and obtained a virtual asset license from the country's Capital Markets Authority (CMA). In early July of the same year, the new bank Revolut also received in-principle approval from the Dubai Virtual Assets Regulatory Authority to provide cryptocurrency-related services in the region.

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