Standard Chartered Receives UAE VARA License to Launch BTC and ETH Trading Services for Wealthy Clients

On October 14, according to official disclosures, Standard Chartered announced it has received approval from the UAE's Virtual Assets Regulatory Authority (VARA) to officially launch a cryptocurrency trading solution for professional investors in the UAE. Eligible affluent clients can directly trade Bitcoin (BTC) and Ethereum (ETH) through their existing bank accounts, without needing separate wallets or third-party platforms.

The initiative is jointly launched by Standard Chartered's Wealth and Retail Banking division, Corporate and Investment Banking division, and Zodia Markets under SC Ventures. The entire trading process operates within the bank's ecosystem in a closed-loop format, featuring institutional-grade custody and settlement. Standard Chartered stated that it plans to gradually expand the service to other global markets in the future.