- Launch of Cryptocurrency Custody Service
- Partnership with Brevan Howard Digital
- Plans for Service Expansion
International bank Standard Chartered has announced the launch of cryptocurrency custody services in the United Arab Emirates. This initiative was made possible through a partnership with Brevan Howard Digital and approval from the Dubai Financial Services Authority (DFSA).
Launch of Cryptocurrency Custody Service
Standard Chartered aims to provide institutional and corporate clients with a secure and reliable solution for storing digital assets. Initially, the service will cover Bitcoin (BTC) and Ether (ETH).
Partnership with Brevan Howard Digital
The launch was made possible through a partnership with Brevan Howard Digital and approval from the Dubai Financial Services Authority (DFSA).
Plans for Service Expansion
The bank plans to expand the range of supported cryptocurrencies and explore opportunities to offer additional services, such as trading and asset management. This move is part of the bank's strategy to embrace innovation and meet the growing demand for cryptocurrency services in the region.
The UAE's ambition to become one of the world's leading hubs for cryptocurrencies and blockchain technologies is strengthened by the involvement of major financial institutions like Standard Chartered.
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