Standard Chartered Launches Spot Bitcoin, Ether Trading for UAE Institutions

Standard Chartered has become the first major global bank to offer institutional clients spot trading in Bitcoin and Ether in the United Arab Emirates. The London-headquartered bank rolled out the service through its entity regulated by the Dubai International Financial Centre (DIFC), making it both the first global bank and the first Global Systemically Important Bank (G-SIB) with such an offering in the region, according to a Thursday announcement.

Eligible institutional clients can now access spot BTC and ETH trading through Standard Chartered's electronic trading channels, which are integrated into the bank's existing platforms. The launch builds on the bank's growing digital asset footprint in the UAE, including the digital asset custody services it introduced in September 2024 and a banking agreement signed in June with crypto exchange CoinMENA to support fiat on- and off-ramps, client money accounts, and virtual account-based transaction management.

The move comes amid a broader push by crypto firms to secure regulatory approval in the UAE. In August, trading platform Capital.com revealed plans to offer spot crypto services in the country after securing a virtual-asset license from the UAE's Capital Market Authority (CMA). Earlier in July, neobank Revolut received in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer crypto-related services in the region.

Standard Chartered's expansion signals rising institutional confidence in regulated crypto markets in the Gulf, even as the bank has tempered some of its bolder Bitcoin forecasts. The bank recently indicated its earlier $100,000 year-end Bitcoin price target may be 'too low,' underscoring continued bullish sentiment toward digital assets among major financial institutions.