Standard Chartered Launches Spot Bitcoin, Ether Trading for UAE Institutions

Standard Chartered ($STAN) has launched spot trading in Bitcoin (CRYPTO: $BTC) and Ether (CRYPTO: $ETH) for institutional clients in the United Arab Emirates, making it the first global systemically important bank (G-SIB) to offer the service in the country.

In a Thursday announcement, the bank said that eligible institutional clients can trade BTC and ETH through its electronic trading channels integrated into the bank's existing platforms, allowing clients to access crypto trading through the same foreign exchange interfaces they already use.

Unlike futures or other derivatives, spot trading involves buying and selling the underlying asset for delivery.

"Extending our Bitcoin and Ether spot trading capability to institutional clients is a significant step in broadening our regulated digital asset proposition in the market," Rola Abu Manneh, Standard Chartered's chief executive for the UAE, Middle East and Pakistan, said.

The UAE service also expands Standard Chartered's existing digital asset business in the country. The bank began offering digital asset custody in September 2024, and clients using the new trading service can settle their trades with a custodian of their choice, including Standard Chartered's own custody platform.