Standard Chartered (STAN) introduced a crypto trading service for affluent clients in the United Arab Emirates, allowing eligible investors to buy and sell bitcoin and ether through their existing bank accounts.
The service will initially be available to clients classified as professional investors, and the London-based lender said it is the first of its kind offered by an international bank in the UAE.
The debut is also a global first for Standard Chartered, according to the bank, because it marks the first time it has offered cryptocurrency trading directly to wealthy clients in any market.
The bank will manage custody and settlement within its own ecosystem using a closed-loop model, it said, meaning clients…
