The bank announced on Wednesday that it had obtained approval from Dubai’s Virtual Assets Regulatory Authority for the service, which will initially be restricted to clients classified as Professional Investors. It described the offering as its first cryptocurrency trading facility for affluent wealth customers globally and the first such international bank service in the UAE.
Customers meeting the eligibility requirements can buy and sell the two cryptocurrencies without opening accounts with external exchanges or establishing separate digital wallets. Standard Chartered will handle custody and settlement within its own operating arrangements, using a closed-loop structure to reduce third-party wallet risks.
The arrangement brings cryptocurrency transactions into an existing banking relationship, allowing clients to use the institution’s established infrastructure rather than transferring funds between a bank and an independent trading venue. The bank said the service combines client access, liquidity and custody, without disclosing charges, minimum investments or projected volumes.
The launch involves collaboration between Standard Chartered’s Wealth and Retail Banking and Corporate and Investment Banking divisions, together with Zodia Markets, a digital asset business backed by the bank’s venture investment arm, SC Ventures. The partnership combines trading infrastructure, liquidity and custody.
Samir Subberwal, the bank’s global head of wealth solutions, retail products, data and analytics, said customers were increasingly seeking digital asset exposure through established financial institutions. He described the addition of cryptocurrencies to the bank’s wealth offering as a significant development, reflecting demand for access accompanied by regulated custody and operational safeguards.
Rola Abu Manneh, Standard Chartered’s chief executive for the UAE, Middle East and Pakistan, said the country had been selected because of its regulatory framework and position in the digital asset sector. She also identified the UAE as one of the banking group’s four global wealth hubs.
The distinction between affluent clients and professional investors is important. The announcement does not establish that cryptocurrency dealing is available to all personal account holders in the UAE. Access remains subject to the bank’s eligibility criteria and the applicable regulatory classification, not merely holding a bank account.
Standard Chartered has not announced a date for widening access to other customer categories. It said it intends to extend the offering to additional markets over time, without specifying destinations or timing. The initial service covers Bitcoin and Ether, and the bank has not disclosed plans to add further cryptocurrencies to this particular facility.
The move follows the bank’s September introduction of institutional spot trading in Bitcoin and Ether through its Dubai International Financial Centre operation. That separate service is regulated by the Dubai Financial Services Authority and enables qualifying institutional customers to execute transactions through electronic channels using foreign exchange interfaces.
Institutional customers using the DIFC facility can choose a custodian, including Standard Chartered’s own digital asset custody service. The new wealth offering instead places trading, custody and settlement within a single banking arrangement, under separate regulatory oversight.
Standard Chartered first introduced deliverable spot cryptocurrency trading for institutional clients through its UK branch in July 2025. Its UAE custody operation had begun in September 2024. The new service targets qualified wealth customers rather than institutional trading firms.
The bank already offers eligible wealth customers exposure to cryptocurrency exchange-traded funds through its cash equities platform, alongside structured products and over-the-counter derivatives. Direct purchases of Bitcoin and Ether add another route to market exposure, distinct from products tracking cryptocurrency prices.
Unlike conventional bank deposits, cryptocurrency holdings can experience sharp price movements and are not equivalent to cash balances. Custody arrangements may address some operational risks but cannot eliminate market losses. Standard Chartered has not published performance expectations for the service or suggested that regulatory authorisation protects customers against fluctuations in the value of their holdings.
The bank’s wider digital asset activities also encompass tokenisation and infrastructure ventures, including Libeara. Its announcement did not specify whether customers would be able to transfer purchased coins to external wallets, nor did it provide detailed information about dealing hours or settlement periods.
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