Standard Chartered Introduces Digital Asset Custody Service in UAE

Standard Chartered has launched its new digital asset custody service in the United Arab Emirates (UAE), marking a significant step in the bank’s digital asset strategy. Licensed by the Dubai Financial Services Authority (DFSA), the service provides secure storage for digital assets, starting with bitcoin and ethereum. The launch took place at the Dubai International Financial Centre (DIFC), a renowned global financial hub.

Institutional Demand Drives Custody Solution

The service reflects growing institutional interest in secure, regulated custody solutions for digital assets. Brevan Howard Digital, a division of Brevan Howard, is the first client of this new offering. Standard Chartered’s Group Chief Executive, Bill Winters, commented, “We firmly believe that digital assets are not merely a passing trend, but a fundamental shift in the fabric of finance.”

This service comes at a time when institutions are increasingly seeking regulated environments for managing their digital assets. Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, emphasized, “This announcement demonstrates the growing institutional interest in digital assets and the critical need for secure, regulated custody solutions.”

Standard Chartered aims to expand beyond bitcoin and ethereum, adding more digital assets to its custody service. The bank also plans to broaden its reach into other financial hubs. Harwood-Jones noted that their solution incorporates prudential standards, ensuring a higher level of security and regulatory compliance. “It’s a game changer for institutional clients navigating the digital asset sector,” she added.

Gautam Sharma, CEO of Brevan Howard Digital, praised the partnership, noting that Standard Chartered’s reputation strengthens institutional adoption in the UAE and the broader digital asset markets.