Standard Chartered said on Wednesday that it had launched digital assets custody services in the UAE.
The custody service for digital assets, licenced by the Dubai Financial Services Authority, marks a significant milestone in the bank’s digital asset strategy.
The service enables clients to store their digital assets, supporting Bitcoin and Ethereum securely. Brevan Howard Digital, the crypto and digital asset division of Brevan Howard, is the inaugural client for the product.
“We believe digital assets are not merely a passing trend but a fundamental shift in the fabric of finance. Our new custody service positions us at the forefront of this evolution,” said Bill Winters, the Group Chief Executive of Standard Chartered Bank.
Gautam Sharma, Chief Executive Officer of Brevan Howard Digital, praised the UAE’s regulatory environment and the credibility added by Standard Chartered’s global reputation. Sharma emphasized the importance of institutional infrastructure for the continued growth of the digital asset ecosystem.
Standard Chartered plans to expand its digital asset custody offerings to include a wider range of assets and explore opportunities in other key financial hubs.
