Standard Chartered Expands Bitcoin and Ether Trading to Professional Investors in UAE

Standard Chartered has expanded its digital asset trading services for professional investors in the United Arab Emirates, aiming to reach more market participants.

Standard Chartered expanded its digital currency trading services to professional investors in the UAE region and plans to reach out to more market participants.

Standard Chartered has expanded Bitcoin (BTC) and Ether (ETH) trading to wealthy clients in the United Arab Emirates (UAE) who qualify as professional investors.

The London-based multinational bank announced on Wednesday that eligible investors can trade these assets in their existing Standard Chartered bank accounts.

Standard Chartered's eligibility criteria require individuals to have at least 4 million dirhams (about $1.1 million) in net assets, excluding their primary residence, and to have sufficient investment knowledge and experience or to be represented by a licensed entity.

Sameer Subbarwal, global head of wealth solutions, retail products, data and analytics at Standard Chartered, said digital assets are "moving into mainstream wealth conversations" and bank customers increasingly seek "the security, trust and assurance of investing through a regulated and trusted institution."

The development comes more than a month after Standard Chartered launched its UAE digital currency trading service for institutional clients in early September.

Standard Chartered is not the only company expanding its digital asset offering in the region. On Monday, Kraken's parent company, Payward, received VARA approval to offer crypto services through its local entity. In July, Revolut Neobank received in-principle approval from Dubai's VARA to offer cryptocurrency-related services.