Standard Chartered Bank announced 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, has become the bank’s first client to benefit from the service.
Choosing the UAE as a launch center:
The bank explained that its choice of the United Arab Emirates came due to the country’s balanced policies in adopting digital assets and regulating their financial regulation.
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 this context, Gautam Sharma, CEO of Brevan Howard Digital, stated:
Standard Chartered’s global reputation and demonstrated commitment to this area adds a meaningful layer of credibility to institutional adoption.
In addition to digital asset services, the bank announced its investment in London-based United Fintech Group Limited, which specializes in the digital transformation of financial markets.
This investment is part of Standard Chartered’s strategy to acquire and partner with fintech 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.
