Standard Chartered Unleashes Bitcoin Trading in UAE Market
Standard Chartered has launched institutional bitcoin spot trading in the UAE, a first for the country, building on its previous digital asset custody services. This move aligns with the bank's broader crypto strategy, which includes a London trading desk and a bullish outlook on bitcoin's price, forecasting a potential surge to $126,000 by year-end.
Multinational banking giant Standard Chartered has announced the launch of bitcoin spot trading services for its eligible institutional clients in the United Arab Emirates. This groundbreaking initiative marks the first of its kind in the country, further solidifying the UAE's position as a hub for digital asset innovation. The bank's move builds upon its earlier steps in the region, which included the establishment of digital asset custody services in the UAE in 2024, preceding its broader debut of spot crypto trading in other international markets.
Rola Abu Manneh, Chief Executive Officer for UAE, Middle East, and Pakistan at Standard Chartered, emphasized the strategic importance of this development, stating, “The UAE has developed a clear digital assets regulatory framework that supports institutional participation and innovation.” Manneh further elaborated on the integrated approach, noting, “By combining execution with secure custody, governance and the connectivity of a global bank, we are providing clients with a more integrated way to participate in digital asset markets.”
This latest offering is part of Standard Chartered's broader strategy in the digital asset space. In 2025, the bank established a dedicated trading desk for bitcoin and other cryptocurrencies in London, integrating it into its existing forex trading operations. The same year, Standard Chartered also launched Libeara, a blockchain unit designed to assist institutions in tokenizing traditional assets.
Standard Chartered has also maintained a bullish outlook on bitcoin's price trajectory. In an August note to investors, Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research, suggested that a year-end price forecast of $100,000 might be conservative. Kendrick indicated that an overshoot towards the all-time high of $126,000 could be possible before year-end, especially “Once investors remember how quickly prices can accelerate to the topside, and we get past the 6 October date (12 months after the all-time high).” He also highlighted that bitcoin’s recent bear market has been the shallowest on record, underscoring the asset's resilience.