Standard Chartered Launches Institutional Crypto Spot Trading in UAE

Standard Chartered is expanding its cryptocurrency business in the United Arab Emirates.

The bank on September 3 launched spot trading services for Bitcoin and Ether for institutional clients in the UAE, Reuters reported. Standard Chartered is the first major bank in the UAE to offer crypto spot trading.

Institutional clients can buy and sell physically delivered Bitcoin and Ether through Standard Chartered's foreign-exchange trading interface.

Standard Chartered entered the UAE crypto market earlier in 2024 with the launch of a digital-asset custody service. The bank said institutional clients can trade cryptocurrencies through a custodian of their choice, including Standard Chartered's digital-asset custody solution.

Standard Chartered also introduced spot trading in Bitcoin and Ether for institutional clients in the UK last year.