Standard Chartered launches Bitcoin and Ether trading for wealthy UAE clients
Standard Chartered opens crypto trading to UAE's wealthy
Standard Chartered has launched bitcoin and ether trading for eligible affluent clients in the United Arab Emirates, allowing them to buy and sell through their existing bank accounts.
The bank announced the service on October 14. It is available around the clock through the SC Mobile app and supports transactions in US dollars or UAE dirhams.
The service operates as a "closed-loop" system, meaning clients cannot transfer their crypto in or out. The coins remain inside Standard Chartered's system, and customers do not need a separate wallet or trading platform.
Key numbers and eligibility rules
- Minimum order: $50 (or dirham equivalent). Maximum order: $50,000 (or dirham equivalent).
- Bank charges a spread of up to 2%, with no additional transaction or custody fees.
- Access is limited to clients classified as Professional Investors.
- Eligible clients must have valid UAE residency, be over 21, hold an eligible dollar or dirham account, have an investor risk-profile rating above 5, and maintain a banking relationship of at least AED 4 million.
How custody and settlement work
Under the client agreement, Standard Chartered acts as broker-dealer while a group company holds and safeguards the purchased assets. Clients retain ownership of the coins, which are not bank deposits and do not receive deposit protection.
The bank provides real-time balance updates and transfers ownership immediately upon purchase. Standard Chartered receives the coins from its counterparty by the end of the same business day. When clients sell, proceeds go back to their designated bank account.
Regulatory setup and expansion plans
Standard Chartered Bank, operating in the UAE, is the contracting entity. Dubai's Virtual Assets Regulatory Authority (VARA) issued the bank an active broker-dealer license on August 24. This authorization covers Dubai outside the Dubai International Financial Centre (DIFC).
This offering falls under a different regulatory framework than Standard Chartered's October 12 announcement about RLUSD custody for institutional clients, which is handled through its DIFC branch regulated by the Dubai Financial Services Authority.
The bank said the service will start with Professional Investors in the UAE and plans to expand to other markets over time.
Why this matters
Traditional banks have been gradually entering the crypto space, and this launch adds Standard Chartered's direct trading option alongside its existing offerings of crypto exchange-traded funds (ETFs — investment funds that track the price of crypto assets), structured products, and over-the-counter derivatives.
However, the closed-loop design limits what clients can do with their crypto, as they cannot move it to external wallets or trading platforms.
What is confirmed
Standard Chartered launched bitcoin and ether trading for eligible UAE clients on October 14. The service is closed-loop, restricts transfers, charges up to a 2% spread, and is available to Professional Investors meeting specific financial thresholds.
What is still unclear
The bank has not announced a specific date or list of markets for future expansion beyond the UAE.
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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