Standard Chartered has unveiled its cutting-edge digital asset custody service in the UAE, marking a transformative step in institutional cryptocurrency adoption. Licensed by the Dubai Financial Services Authority (DFSA), this service enables clients to securely store Bitcoin and Ethereum, with plans to expand support for additional digital assets.
Key Features of the Custody Service
- Regulated Security: Operates under DFSA oversight within the Dubai International Financial Centre (DIFC).
- Institutional-Grade Infrastructure: Combines traditional banking expertise with blockchain technology.
- Pioneering Client: Brevan Howard Digital is the inaugural user, signaling growing institutional trust.
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Leadership Insights
Bill Winters, Group CEO, Standard Chartered
"Digital assets represent a fundamental shift in finance. Our custody service bridges traditional financial services with the digital ecosystem, ensuring security and compliance."
Margaret Harwood-Jones, Global Head of Financing & Securities Services
"This isn’t just a wallet service—it’s a holistic solution addressing regulatory and risk challenges for institutional investors."
Gautam Sharma, CEO, Brevan Howard Digital
"Standard Chartered’s entry validates the UAE’s role as a hub for digital asset innovation and institutional infrastructure."
Future Expansion
Standard Chartered aims to:
- Broaden supported digital assets.
- Extend services to other global financial hubs.
- Enhance institutional adoption through secure, regulated frameworks.
FAQs
Why did Standard Chartered choose the UAE for this launch?
The UAE’s balanced approach to digital asset regulation and its status as a global financial hub made it an ideal location.
What makes this custody service unique?
It merges traditional custodial expertise with blockchain technology, offering unparalleled security and compliance.
How does Brevan Howard Digital benefit from this partnership?
Access to Standard Chartered’s global reputation and infrastructure accelerates institutional adoption of digital assets.
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Final Notes
This launch underscores the UAE’s leadership in fintech innovation and Standard Chartered’s commitment to shaping the future of digital finance. For inquiries, contact Wasim Benkhadra or Kate Matthews (details retained for professional purposes).
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