Standard Chartered has announced that it has launched its digital asset custody services in the United Arab Emirates (UAE) with the British hedge fund’s cryptocurrency and digital asset division Brevan Howard Digital as its first client.
The bank, which focuses on emerging markets, chose the UAE for its “balanced approach to digital asset adoption and financial regulation.”
Gautam Sharma, CEO of Brevan Howard Digital, praised the collaboration in a joint statement, saying: “Standard Chartered’s global reputation and demonstrated commitment to this space adds a meaningful layer of credibility for institutional adoption.”
The UAE has been actively working to position itself as a hub for major crypto firms, attracting the likes of Binance and OKX, and is also developing regulatory frameworks for virtual assets to attract new businesses as competition intensifies in the Gulf region.
Standard Chartered is one of several major banks expanding into the crypto space as institutional investors increasingly embrace digital assets. The bank backs two cryptocurrency firms, Zodia Markets and Zodia Custody, offering clients a range of services including custody and trading.
*This is not investment advice.