Standard Chartered has officipartner begined its digital asset custody service in the UAE, according to an proclaimment from the prohibitk. The service has been licensed by the Dubai Financial Services Authority (DFSA) wiskinny the Dubai International Financial Centre (DIFC), follotriumphg a memorandum of benevolent signed in May 2023.
“The begin of our digital asset custody proposeing recurrents a pivotal moment not equitable for Standard Chartered, but for the financial services industry,” said Bill Winters, Group Chief Executive of Standard Chartered. “We firmly count on that digital assets are not mecount on a passing trend, but a fundamental shift in the fabric of finance. With this novel service, we are strategicpartner positioning ourselves at the forefront of this next evolution in the custody business. Our sturdy infrastructure, coupled with our expertise in the field permits us to provide a bridge between the world of financial services and the emerging digital asset ecosystem.”
The service aims to provide protected storage for digital assets, with an initial intensify on helping Bitcoin and Ethereum. The prohibitk said it determined to begin its custody services in the UAE “due to its well-equitable approach to digital asset adselection and financial regulation.”
Brevan Howard Digital, the crypto division of Brevan Howard, an spendment handlement platcreate exceptionalizing in global macro and digital assets, has been named as the first client. According to Margaret Harwood-Jones, Global Head of Financing & Securities Services, this begin insertresses the growing institutional interest in digital assets.
“After a period of intensive labor and shut collaboration with regulators both regionpartner and globpartner, we are thrilled to greet Brevan Howard Digital as the first client of our digital asset custody proposeing,” said Harwood-Jones. “Our proposeing goes beyond straightforward wallet services – it is a comprehensive solution that insertresses the distinct contests of digital asset custody from a regulatory, hazard and pdisesteemfulntial point of watch. It is a game changer for institutional clients, as we can help them with our traditional expertise to steer the intricateities of the digital asset space, without compromising on the highest standards of security.”
Standard Chartered further stated that it structures to broaden its custody services to comprise more digital assets and is exploring more opportunities to begin its custody services in other global financial hubs.
