Standard Chartered Bank launches digital asset custody services in the UAE

Standard Chartered Bank announced yesterday, Tuesday, the launch of its digital asset custody services in the United Arab Emirates.

Brevan Howard Digital, the digital assets arm of the British hedge fund, became the bank’s first client to benefit from this service.

Choosing the UAE as a launch center:

The bank explained that its choice of the UAE came due to the country’s balanced policies in adopting digital assets and regulating their finances.

The UAE is actively seeking to attract major global crypto companies such as Binance and OKX, and is working to develop regulatory frameworks for virtual assets with the aim of enhancing economic competition in the Gulf region.

In addition to digital asset services, the bank announced its investment in the London-based United Fintech Group Limited, which specializes in the digital transformation of financial markets.

This investment falls within Standard Chartered’s strategy to acquire and partner with financial technology companies, with the aim of creating a comprehensive technology platform for capital markets.

This platform aims to support innovation and foster collaboration between technology providers, serving banks, hedge funds and asset managers.