Standard Chartered announced a new service that will let eligible professional investors in the United Arab Emirates buy and sell Bitcoin and Ethereum through their existing bank accounts without opening a separate crypto wallet.
According to CoinDesk, the London-based bank’s service will initially be available to affluent clients classified as professional investors. Customers will be able to trade Bitcoin (BTC) and Ethereum (ETH) using their existing bank accounts.
Custody and settlement within the bank’s ecosystem
Standard Chartered will manage asset custody and transaction settlement within its own ecosystem. This closed-loop model means customers will not need to open a separate crypto wallet or create an account on a third-party trading platform.
The service will be offered through Zodia Markets, backed by the bank’s SC Ventures unit. Standard Chartered also said it had received license approval from the Dubai Virtual Assets Regulatory Authority (VARA).
A global first for the bank
According to Standard Chartered, the service is the first of its kind offered by an international bank in the UAE. It is also the bank’s first offering of direct cryptocurrency trading to affluent clients in any market.
The bank launched spot trading in Bitcoin and Ethereum for institutional clients in the UK in July 2025, and expanded the service to the UAE on September 3. The new move focuses on providing affluent clients with direct access to trading.
Standard Chartered already offers eligible clients crypto exchange-traded funds, structured products, and over-the-counter derivatives. The bank plans to bring its new direct trading service to other markets as well, but has not yet announced a timeline for the expansion.
Not investment advice.