Standard Chartered expands Bitcoin and Ether trading to professional investors in UAE
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Standard Chartered has expanded Bitcoin (BTC) and Ether (ETH) trading services to wealthy clients in the United Arab Emirates (UAE) who qualify as professional investors. Eligible clients with at least 4 million dirhams in net assets can trade these digital assets through their existing bank accounts. The announcement was made by the London-headquartered bank on Wednesday.
Why it matters
The bank highlights that digital assets are entering mainstream wealth discussions, with clients seeking the trust and security of regulated institutions for crypto investments. This move reflects growing demand among high-net-worth individuals for regulated crypto exposure through established banks.
Key context
This expansion follows Standard Chartered’s launch of crypto trading services for institutional clients in the UAE earlier in September. Other crypto-related service providers, such as Kraken’s parent company Payward and neobank Revolut, have also received or are seeking regulatory approval in Dubai’s crypto authority, VARA.
Key numbers and entities
Standard Chartered, UAE, Bitcoin (BTC), Ether (ETH), 4 million AED (~$1.1 million), Samir Subberwal (Standard Chartered’s global head of wealth solutions), Kraken’s parent company Payward, Dubai’s Virtual Assets Regulatory Authority (VARA), Revolut.
What remains unclear
Details on trading fees, exact product structures, or limits for the new offering are not specified. The source does not clarify how many clients are eligible or currently using the service, nor the bank’s plans for further digital asset expansion.