Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Standard Chartered Launches Digital Asset Custody Service in Dubai

Source Livebitcoinnews

Standard Chartered has received permission from the Dubai Financial Services Authority (DFSA) to launch its digital asset custody service.

Banking conglomerate Standard Chartered has launched its digital asset custody service in the Dubai International Financial Centre (DIFC) free zone after receiving licensure from the Dubai Financial Services Authority (DFSA), the free zone’s regulator. The service, brought in partnership with hedge fund Brevan Howard’s digital asset custody vertical, Brevan Howard Digital, will service BTC and ETH for now. However, it will expand to embrace more crypto assets in the future and move to offer the services in other jurisdictions.

This news does not catch many by surprise as Standard Chartered announced it over a year ago as it had signed a memorandum of understanding (MoU) with the DIFC. That has transpired into full-blown licensing much over a year later.

Regarding the capabilities of this service, Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, said, “Our offering goes beyond simple wallet services – it is a comprehensive solution that addresses the unique challenges of digital asset custody from a regulatory, risk and prudential point of view.” Brevan Howard Digital CEO Gautam Sharma added, “Standard Chartered’s global reputation and demonstrated commitment to this space adds a layer of credibility that is meaningful for institutional adoption.”

Furthermore, Bill Winters, Group Chief at Standard Chartered, iterated on the importance of the bank’s journey into the digital asset industry, calling this a pivotal moment for the multinational bank and financial services industry. “We firmly believe that digital assets are not merely a passing trend, but a fundamental shift in the fabric of finance.”

Standard Chartered has been aggressively making moves in the digital asset industry, reflecting Winters’ statement. It partnered with Animoca Brands to participate in Hong Kong’s stablecoin sandbox. It has also joined hands with Crypto.com to provide fiat withdrawal and deposit capabilities in 90 countries.

UAE Leads Crypto Adoption

In the meantime, the UAE has grown to become one of the best jurisdictions for crypto. Henley & Partners ranked the country first in its Crypto Adoption Index 2024.

The post Standard Chartered Launches Digital Asset Custody Service in Dubai appeared first on Live Bitcoin News.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

Sep 16, Wed

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Yesterday 01: 32

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

19 hours ago

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Popular Symbols