Standard Chartered Bank announced on Tuesday the launch of a digital asset custody service in the United Arab Emirates, which will initially support Bitcoin (BTC) and Ethereum (ETH). Brevan Howard Digital, the digital investment arm of European hedge fund management company Brevan Howard, has confirmed that it will be the supplier of this product. First customer.

Standard Chartered Bank stated in a press release that the launch of this service in the United Arab Emirates is due to the country's good balance in digital asset adoption and financial supervision, and also marks an important milestone in Standard Chartered Bank's digital asset strategy.

Standard Chartered plans to expand its services to cover a wider range of digital assets in the coming months, and the bank said it is actively exploring opportunities to expand its custody services to other major financial centers in its footprint markets.

Bill Winters, CEO of Standard Chartered Group, said:

"The launch of our digital asset custody service is a critical moment for Standard Chartered Bank and the entire financial services industry. We firmly believe that digital assets are not just a temporary trend, but a fundamental change in the financial structure. With this new service, we Strategically positioning ourselves at the forefront of the next generation evolution of the hosting business.”

Gautam Sharma, chief executive of Brevan Howard Digital, said: “The launch of this new service is an important win for UAE and the wider digital asset industry. Standard Chartered’s global reputation and its commitment to the field adds an additional layer of reliability. Reliability, which is significant for institutional adoption.

Source