TechFlow news — On September 11, according to financefeeds, Standard Chartered announced the official launch of its digital asset custody services in the United Arab Emirates (UAE). The service has been licensed by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC). Brevan Howard Digital, the crypto and digital assets division of UK-based hedge fund Brevan Howard, became Standard Chartered's first client in the region.
Standard Chartered stated that the UAE has adopted a "balanced approach" toward digital assets, effectively striking a balance between promoting adoption and ensuring robust financial regulation. Currently, the service supports custody for Bitcoin and Ethereum, with plans to expand to additional digital assets in the coming months. Standard Chartered is also actively exploring opportunities to extend its custody services to other key financial centers.
Bill Winters, Group Chief Executive of Standard Chartered, said the launch of digital asset custody marks a pivotal moment not only for the bank but for the entire financial services industry. He emphasized that digital assets are not just a passing trend, but a fundamental transformation in finance.
