Standard Chartered says it has started direct spot trading of Bitcoin and Ethereum for professional investor clients in the United Arab Emirates after receiving approval from Dubai’s Virtual Assets Regulatory Authority. The bank offers eligible customers the ability to trade through their existing banking accounts while the bank handles key operational steps, including managing transactions, custody, and settlement.
The service is described as using a closed-loop model, which reduces the need for customers to use separate crypto wallets. Sources also say the offering is developed with support from Zodia Markets. While outlets note that Standard Chartered could expand the service to additional markets and widen access to more participants, the bank has not provided a specific timetable for any broader rollout.
