Standard Chartered appoints securities services head

Standard Chartered has broadened its Bitcoin and Ether trading options for professional investors in the United Arab Emirates (UAE) region. The multinational bank announced on Wednesday that eligible investors can now trade these digital assets within their existing Standard Chartered accounts. To qualify, individuals must possess a net worth of at least 4 million dirhams (approximately $1.1 million), excluding their primary residence, and demonstrate sufficient investment knowledge and experience or be represented by a licensed entity.

Samir Subberwal, the global head of wealth solutions, retail products, data, and analytics at Standard Chartered, stated that digital assets are becoming increasingly prevalent in wealth discussions, and clients are seeking the security, trust, and confidence that come from investing through a regulated and trusted institution.

This move follows Standard Chartered's launch of crypto trading services for institutional clients in the UAE in early September. The bank is not alone in expanding its digital asset offerings in the region. On Monday, cryptocurrency exchange Kraken's parent company, Payward, received approval to provide crypto services through its local entity. In July, neobank Revolut received an in-principle approval from Dubai's Virtual Assets Regulatory Authority (VARA) to offer crypto-related services.