Standard Chartered, a multinational bank, is set to offer custody services for Bitcoin and Ethereum to its institutional clients in Dubai starting in Q1 2024. This move signifies the bank’s embrace of digital assets and is supported by the favorable crypto regulations in the United Arab Emirates (UAE). Standard Chartered has a strong presence in the UAE, with Dubai serving as its hub for the Middle East and Africa. The bank previously signed a Memorandum of Understanding with the Dubai International Financial Centre to explore digital asset custody. The custody services will be facilitated by Zodia Custody, Standard Chartered’s institution-first digital asset custodian. The decision to anchor their crypto services in the UAE is strategic, as the country has a progressive stance on digital assets and offers a regulatory edge compared to other regions. With the UAE’s licensure, Standard Chartered aims to redefine banking in the region and offer its custody services globally.

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Information	Details
Geography	Middle East
Countries	🇦🇪
Sentiment	positive
Relevance Score	1
People	Waqar Chaudry
Companies	Abu Dhabi’s over-the-counter (OTC) market, Standard Chartered PLC, UAE Blockchain Strategy 2021, Dubai International Financial Centre (DIFC), Zodia Custody
Currencies	Bitcoin, Ethereum
Securities	None