Standard Chartered was approved by the Dubai Financial Services Authority to offer crypto custody solutions in the UAE.
Multinational bank Standard Chartered said it will start offering crypto custody services in the United Arab Emirates.
On Sept. 10, the consumer banking corporation said it would start its digital asset custody service with Bitcoin (BTC) and Ether (ETH), the two largest cryptocurrencies by market capitalization. The bank has initiated its custody services in partnership with Brevan Howard Digital, the cryptocurrency division of the hedge fund Brevan Howard.
The service was first announced on May 10, 2023, when the bank signed a memorandum of understanding with the Dubai International Financial Centre (DIFC), a special economic zone in the UAE.
