Standard Chartered launches institutional spot crypto trading in UAE

Standard Chartered Debuts Institutional Spot Crypto Trading in UAE

Standard Chartered Launches Crypto Spot Trading for Institutional Clients

Sept 3 (Reuters) - Standard Chartered said on Thursday it had launched cryptocurrency spot trading in bitcoin and ether for institutional clients in the United Arab Emirates, becoming the first global systemically important bank to offer the service in the Gulf country.

Key Details of the Launch

Here are the details: 

Access and Trading Channels

• The bank said eligible institutional clients can access deliverable bitcoin and ether spot trading through its electronic trading channels.

About Ether Spot Trading

• Ether spot trading allows investors to buy and sell ether, the native cryptocurrency of the Ethereum blockchain, for immediate delivery rather than through derivatives contracts.

Platform Integration and Execution

• The service is integrated into Standard Chartered's existing platforms, allowing clients to execute crypto-asset trades through foreign exchange interfaces, it said.

Expansion of Digital Asset Services

• The launch expands the bank's digital asset offering in the UAE by adding execution services to its custody business, which the bank launched in September 2024.