Standard Chartered has announced the launch of its highly anticipated digital asset custody service in the UAE.
Licensed by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC), this service marks a key milestone in the bank’s digital asset strategy. Initially, it will support Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization.
The UAE was chosen as the launchpad due to its balanced approach to digital asset adoption and financial regulation. According to the company, the service will provide clients with a secure solution to safekeep their digital assets, with Brevan Howard Digital, the crypto and digital asset division of Brevan Howard, confirmed as the inaugural client.
Bill Winters, Group Chief Executive of Standard Chartered, described the launch as a pivotal moment for both the bank and the financial services industry. “Digital assets are not just a passing trend; they represent a fundamental shift in finance,” he said. Winters emphasized that the new service positions Standard Chartered at the forefront of digital asset custody, providing a secure bridge between traditional financial services and the emerging digital asset ecosystem.
Margaret Harwood-Jones, Global Head of Financing & Securities Services, highlighted the importance of secure, regulated solutions in the growing digital asset space. “Our offering goes beyond simple wallet services—it’s a comprehensive solution that addresses regulatory, risk, and prudential challenges,” she explained, noting that the service caters to institutional clients who seek secure ways to navigate the complexities of digital asset custody.
Gautam Sharma, CEO of Brevan Howard Digital, called the service a significant win for the UAE and the broader digital asset industry. “Standard Chartered’s global reputation and commitment to this space add credibility, supporting institutional adoption,” Sharma said. He praised the UAE’s expanding role in digital finance and welcomed the bank’s involvement in enhancing industry standards.
Looking ahead, Standard Chartered plans to broaden its custody services to include a wider range of digital assets and is exploring opportunities to extend these services to other financial hubs in its footprint markets.
This launch reflects the growing institutional interest in digital assets and highlights the UAE’s position as a global leader in the rapidly evolving digital asset industry.
