Standard Chartered Launches Digital Asset Custody Service in UAE

Standard Chartered, a major player in financial services, is launching a new digital asset custody service in the UAE after receiving regulatory approval.

The choice of the UAE for this launch is attributed to the region’s strong regulatory framework and progressive stance on digital assets.

The service will initially focus on Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization. Brevan Howard Digital is set to be the inaugural client of this new offering.

This development is seen as a significant step for both Standard Chartered and the broader financial sector, underscoring the growing importance of digital assets.

The bank aims to leverage its established infrastructure and expertise to bridge traditional finance with the evolving digital asset market.

Plans for further expansion of these services into other major global financial centers are also on the horizon.