Standard Chartered Introduces Cryptocurrency Custody Service in Dubai

Standard Chartered Bank has obtained a license from the Dubai Financial Regulatory Authority to provide BTC and ETH storage services within the United Arab Emirates Special Economic Zone. This service is supported by Brevan Howard Digital.

Standard Chartered Bank has revealed the introduction of a cryptocurrency storage service in the United Arab Emirates. This service has been authorized by the Dubai Financial Services Authority (DFSA) to function within the Dubai International Financial Centre (DIFC).

Currently, the service exclusively accommodates Bitcoin (BTC) and Ethereum (ETH) storage; however, Standard Chartered intends to broaden the variety of supported cryptocurrencies and extend the service to additional financial hubs in the UAE. This initiative was launched in collaboration with Brevan Howard Digital, the cryptocurrency division of hedge fund Brevan Howard.

Bill Winters, CEO of Standard Chartered Bank, stated that this initiative aims to enhance the bank’s service offerings and its footprint in the UAE market, as well as to boost the acceptance of digital assets among institutional clients. He believes that cryptocurrencies hold significant importance for the financial industry and have the potential to transform the global financial landscape in the future.

Standard Chartered is actively exploring the tokenization of assets and collaborating with key players in the cryptocurrency sector. Meanwhile, the UAE is at the forefront of digital asset adoption compared to other nations in the Middle East.

Сообщение Standard Chartered Launches Crypto Custody Service in Dubai появились сначала на CoinsPaid Media.