Affluent Standard Chartered clients can now trade cryptocurrencies in UAE

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How the new service will work

Standard Chartered will handle cryptocurrency custody and settlement. The bank will use a closed-loop system in which all transactions are processed within its own infrastructure. Clients will not need to transfer funds to third-party cryptocurrency exchanges or use external wallets.

Trading will be conducted through Zodia Markets, a platform backed by the bank's investment arm, SC Ventures. The service brings together Standard Chartered's wealth management, retail banking, corporate banking, and investment banking divisions. The bank also announced that it had received the necessary approval from Dubai's Virtual Assets Regulatory Authority (VARA).

Standard Chartered expands its presence in the crypto market

The new service is part of Standard Chartered's ongoing expansion into the cryptocurrency market. In July 2025, the bank launched spot Bitcoin and Ethereum trading for institutional clients through its UK division. On September 3, 2026, a similar service became available to institutional investors in the UAE.

Standard Chartered also provides eligible clients with access to cryptocurrency exchange-traded funds (ETFs), structured investment products, and over-the-counter derivatives. The new service adds the ability to buy and sell cryptocurrencies directly through bank accounts.

The bank plans to introduce similar services in other markets. However, Standard Chartered has not yet disclosed which countries it intends to enter or when the expansion will take place.

Why the bank is expanding into cryptocurrencies

Launching cryptocurrency services allows Standard Chartered to diversify its revenue streams and attract affluent investors interested in digital assets. The bank will be able to earn fees from trading activities, as well as generate revenue from cryptocurrency custody and additional investment products. Clients will not need to transfer money to external exchanges, allowing their funds to remain within the bank's ecosystem.

Cryptocurrency services also help the bank strengthen its position in the wealth management market. Instead of turning to separate crypto platforms, affluent clients will be able to buy and hold digital assets while managing traditional investments in one place. This makes the bank more attractive to new investors and helps retain existing clients. The UAE market is particularly important, as Standard Chartered considers it one of its four key international wealth management hubs.

As a reminder, Standard Chartered recently added custody support for Ripple USD (RLUSD).

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