Standard Chartered today announced its highly anticipated digital asset custody service in the UAE. The groundbreaking offering has been granted a licence by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC), a leading global financial hub, following the memorandum of understanding (MoU) signed in May 2023.
The service, which enables clients to safekeep their digital assets, has launched in the UAE due to its well-balanced approach to digital asset adoption and financial regulation, and marks a significant milestone in the Bank’s digital asset strategy, initially supporting the two largest cryptocurrencies by market capitalisation, Bitcoin and Ethereum.
Brevan Howard Digital, the dedicated crypto and digital asset division of Brevan Howard, is confirmed as the inaugural client for the product.
