Standard Chartered launches crypto trading for UAE wealth clients

Standard Chartered has launched a cryptocurrency trading solution for affluent and professional investor clients in the United Arab Emirates. Approved by the Virtual Assets Regulatory Authority (VARA), the service allows eligible clients to trade Bitcoin (BTC) and Ether (ETH) directly through their existing bank accounts. Developed in collaboration with Zodia Markets, the offering utilizes a closed-loop model where the bank manages end-to-end custody and settlement, reducing the need for external wallets or third-party exchanges.

In a separate institutional move, the bank has also implemented Ripple USD (RLUSD) custody services through its Dubai International Financial Centre (DIFC) branch. In partnership with Ripple and LMAX Group, Standard Chartered aims to enable RLUSD to serve as collateral for transactions on the LMAX Group platform without requiring the physical transfer of tokens, thereby reducing operational and counterparty risks.

Additionally, the bank’s digital asset research division has adjusted its long-term market forecasts. Due to a slowdown in stablecoin supply growth attributed to current market cycles, the bank has pushed its projection for a $2 trillion stablecoin market from 2028 to 2030.