Standard Chartered Launches BTC, ETH Custody Services in the U.A.E
CryptoNewsTerminal Staff10 Sep, 2024
Standard Chartered Launches BTC, ETH Custody Services in the U.A.E
Standard Chartered, a leading global bank headquartered in the United Kingdom, has reportedly secured a license in the United Arab Emirates (U.A.E.) to offer cryptocurrency custody services. This move represents a significant step forward for the bank's digital asset ambitions and underscores the growing recognition of cryptocurrencies within the mainstream financial sector. Initially, Standard Chartered will offer custody services for Bitcoin (BTC) and Ether (ETH) in the U.A.E. However, the bank has ambitious plans to expand its cryptocurrency service offerings over time. This includes adding support for additional cryptocurrencies and expanding its geographical reach to other regions. The launch of Standard Chartered's cryptocurrency custody services in the U.A.E. is a testament to the growing demand for digital asset custody solutions among institutional investors. As the cryptocurrency market continues to mature, we can expect to see more traditional financial institutions entering the space to meet this demand.
