UAE Wealthy Clients Get Direct Access to Bitcoin and Ethereum
Key Summary
Standard Chartered has obtained Dubai regulatory approval to enable affluent UAE clients to buy and sell Bitcoin and Ethereum directly through their bank, expanding its financial services to include cryptocurrency trading.
Expanded Cryptocurrency Offerings
Standard Chartered has won Dubai regulatory approval to enable its high-net-worth clients to trade Bitcoin and Ethereum directly from their bank accounts. This move represents a significant expansion of cryptocurrency offerings in the UAE.
Bank-Wide Custody and Settlement
The bank will maintain custody and settlement of these digital assets in-house, providing an additional layer of security and control for its clients.
Regulatory Approval
Standard Chartered has received the necessary regulatory approvals to facilitate this new service, further solidifying the bank's position as a leading financial institution in the region.
Direct Access for Affluent Clients
The new service will allow Standard Chartered's affluent clients to buy and sell Bitcoin and Ethereum directly from their bank accounts, making it easier for them to diversify their investment portfolios and participate in the growing cryptocurrency market.