Standard Chartered adds Bitcoin and Ether spot trading in UAE

The bank said it received approval from Dubai’s Virtual Assets Regulatory Authority, or VARA, and is limiting the service at first to eligible professional investors in the UAE. Standard Chartered called the rollout a first for the bank globally and said it plans to expand the model to other markets over time, though it gave no timeline or target countries.

The service is being run through Standard Chartered’s own ecosystem, with support from Zodia Markets, and is tied directly to existing bank accounts rather than separate crypto wallets or third-party venues. That setup is intended to appeal to clients who want institutional-grade custody and simplified access to Bitcoin and Ether without moving funds outside the banking relationship.

The UAE is a strategic starting point. Standard Chartered said the country’s regulatory backdrop and growing role in digital assets made it a natural launch market, while local executives described the Emirates as one of the bank’s four global wealth hubs.

For investors, the development is another sign that large banks are looking to monetize crypto demand without ceding the client relationship to exchanges. It also strengthens the case for regulated infrastructure in a market that has been volatile: Bitcoin was trading around $79,655 on Tuesday, well below its recent levels after a sharp selloff, while U.S.-listed Coinbase shares were also under pressure and last closed at $159.60.

The broader implication is that crypto is becoming more embedded in wealth management even as prices swing and regulators tighten their grip. Standard Chartered already offers crypto ETFs, structured products and OTC derivatives, and the new UAE service adds direct spot trading to that lineup — a model that could become a template if the bank follows through on its planned expansion.