Key Takeaways
- • Standard Chartered launched direct bitcoin and ether trading on October 14, 2026 for eligible affluent clients in the UAE, keeping trading, custody and settlement inside the bank's system with no transfers to external wallets.
- • Only clients designated as Professional Investors qualify, requiring UAE residency, age over 21, an eligible USD or AED account, an investor risk-profile rating above 5, and a banking relationship of at least AED 4 million.
- • Orders range from $50 to $50,000, with quoted prices carrying a spread of up to 2% and no separate transaction or custody fees.
- • Purchased coins are bank-custodied under a Standard Chartered group company and are not deposits, so they carry no deposit protection.
- • The product sits under Dubai's Virtual Assets Regulatory Authority broker-dealer licence, separate from the bank's DIFC-based RLUSD custody service regulated by the Dubai Financial Services Authority.
Summary
Standard Chartered's crypto trading service went live on October 14, 2026, giving eligible affluent clients in the United Arab Emirates direct access to bitcoin and ether through existing bank accounts. According to The Defiant, clients can buy and sell through the SC Mobile app, paying in US dollars or UAE dirhams. The service adds direct cryptocurrency purchases to the bank's existing investment options, which include crypto exchange-traded funds, structured products and over-the-counter derivatives. According to crypto.news, the bank describes this as its first cryptocurrency trading service aimed at wealthy clients worldwide, and the first such service offered by an international bank in the UAE. The product was built jointly by the bank's Wealth and Retail Banking and Corporate and Investment Banking units, in collaboration with Zodia Markets, a digital asset firm backed by SC Ventures.
Access is restricted to clients the bank designates as Professional Investors. Per the bank's key facts statement, eligibility requires UAE residency, age over 21, an eligible dollar or dirham account, an investor risk-profile rating above 5, and a banking relationship of at least AED 4 million. Orders range from a $50 minimum to a $50,000 maximum, or equivalent dirham amounts. Quoted prices include a spread of up to 2%, and the bank charges no separate transaction or custody fees. Trading is available around the clock.
The service runs as a closed loop. The client agreement names Standard Chartered Bank, operating in the UAE, as broker-dealer, while a Standard Chartered group company safeguards the purchased assets. Clients retain ownership, but the cryptocurrencies are not deposits and carry no deposit protection. Transfers into and out of the service are prohibited. Ownership transfers instantly on purchase, and the bank sources the coins from its counterparty before the business day ends. Sale proceeds are credited to the client's designated bank account. Dubai's Virtual Assets Regulatory Authority lists the bank's active broker-dealer licence as issued on August 24; the agreement specifies that it covers Dubai outside the Dubai International Financial Centre (DIFC).
The affluent-client product operates under a different framework from the bank's Ripple USD (RLUSD) custody service. On October 12, the bank announced that qualifying institutional clients could hold RLUSD on the XRP Ledger through its DIFC branch, which falls under Dubai Financial Services Authority regulation. The bank plans to extend the affluent-client trading offering to other markets over time, beginning with Professional Investors in the UAE.
Access is restricted to clients the bank designates as Professional Investors. Per the bank's key facts statement, eligibility requires UAE residency, age over 21, an eligible dollar or dirham account, an investor risk-profile rating above 5, and a banking relationship of at least AED 4 million. Orders range from a $50 minimum to a $50,000 maximum, or equivalent dirham amounts. Quoted prices include a spread of up to 2%, and the bank charges no separate transaction or custody fees. Trading is available around the clock.
The service runs as a closed loop. The client agreement names Standard Chartered Bank, operating in the UAE, as broker-dealer, while a Standard Chartered group company safeguards the purchased assets. Clients retain ownership, but the cryptocurrencies are not deposits and carry no deposit protection. Transfers into and out of the service are prohibited. Ownership transfers instantly on purchase, and the bank sources the coins from its counterparty before the business day ends. Sale proceeds are credited to the client's designated bank account. Dubai's Virtual Assets Regulatory Authority lists the bank's active broker-dealer licence as issued on August 24; the agreement specifies that it covers Dubai outside the Dubai International Financial Centre (DIFC).
The affluent-client product operates under a different framework from the bank's Ripple USD (RLUSD) custody service. On October 12, the bank announced that qualifying institutional clients could hold RLUSD on the XRP Ledger through its DIFC branch, which falls under Dubai Financial Services Authority regulation. The bank plans to extend the affluent-client trading offering to other markets over time, beginning with Professional Investors in the UAE.
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