Standard Chartered has rolled out cryptocurrency trading for eligible affluent clients in the United Arab Emirates, allowing them to trade Bitcoin and Ether directly through existing bank accounts. The service is regulated by Dubai's Virtual Assets Regulatory Authority and marks a global first for the bank. Developed with SC Ventures-backed Zodia Markets, the platform handles custody and settlement via a closed-loop system.
Speakers at the ninth Sharjah Investment Forum stated that the UAE is positioned to become the primary crossing point for global capital flows between East and West within five years. Industry leaders attributed this trajectory to deliberate regulatory frameworks, dedicated oversight bodies like VARA, and rising investor emphasis on asset custody and trust.
Payward, the parent company of cryptocurrency exchange Kraken, has secured Full Market Approval from Dubai's Virtual Assets Regulatory Authority for its subsidiary Payward FZCO. The license permits the entity to operate as a regulated Virtual Asset Service Provider for retail, professional, and institutional clients. The platform will support AED-denominated pairs alongside direct dirham deposits and withdrawals.
Dubai's Virtual Assets Regulatory Authority has granted Full Market Approval to Payward FZCO, the parent company entity of cryptocurrency exchange Kraken. The license authorizes Payward to provide broker-dealer, management, and investment services to retail, professional, and institutional clients. Kraken plans to launch UAE services in the coming weeks, featuring UAE dirham trading pairs and direct AED funding.
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