[Standard Chartered Bank sets up digital asset custody service in UAE]
Standard Chartered Bank announced today that it has launched digital asset custody services in the United Arab Emirates, with British hedge fund Brevan Howard Digital becoming its first customer. The bank chose the UAE as a launch location because of the country’s balanced regulatory approach to digital assets and its aggressive approach to major crypto companies such as Binance and OKX.
Gautam Sharma, CEO of Brevan Howard Digital, said Standard Chartered’s global reputation and commitment to digital assets add credibility to institutional adoption of digital assets. The UAE has also attracted a number of hedge funds, including firms such as Millennium Management and BlueCrest.
Standard Chartered is expanding its involvement in the cryptocurrency industry and is backing Zodia Markets and Zodia Custody, providing services such as custody and trading.
