CandleFocus Standard Chartered Sets Up Digital Asset Custody Services in UAE
2024-09-10
Author: Content Editor
Standard Chartered has announced that it is now providing digital asset custody services in the United Arab Emirates (UAE). The British hedge fund, Brevan Howard Digital, is the first client to make use of these services. The bank selected the UAE for this launch due to the country's balanced approach to digital asset adoption and financial regulation. The move aligns with the UAE's efforts to attract major cryptocurrency firms and develop regulations for virtual assets to enhance economic competition in the Gulf region. Standard Chartered's involvement in the crypto sector is expanding as institutional investors increasingly embrace digital assets.
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