London-headquartered multinational bank Standard Chartered has launched spot Bitcoin and Ether trading for institutional clients in the United Arab Emirates (UAE). The service is provided through the bank's entity regulated by the Dubai International Financial Centre (DIFC).
According to a Thursday announcement, the launch makes Standard Chartered the first global bank to offer institutional digital asset trading in the region, as well as the first Global Systemically Important Bank (G-SIB) to introduce a comparable offering.
Eligible institutional clients can access spot trading for Bitcoin and Ether through Standard Chartered’s electronic trading channels, which are integrated into the bank’s existing platforms.
This development builds upon the bank's previously established regulated crypto asset services in the region. Standard Chartered launched digital asset custody services in the UAE in September 2024. Additionally, in June, the bank entered into a banking agreement with cryptocurrency exchange CoinMENA to support fiat on- and off-ramps, client money accounts, and virtual account-based transaction management.
Other financial firms and cryptocurrency platforms are also pursuing regulatory approvals to offer digital asset services within the UAE. In August, trading platform Capital.com announced plans to offer spot crypto services after securing a virtual-asset license from the country’s Capital Market Authority. Earlier in July, neobank Revolut received in-principle approval from Dubai’s Virtual Assets Regulatory Authority to provide crypto-related services in the region.
