Standard Chartered Bank plans to launch cryptocurrency custody services in Dubai in Q1 2024.

According to BlockBeats news on October 18th, Standard Chartered Bank plans to start custodianship of BTC and ETH for institutional clients in Dubai beginning Q1 2024, as reported by CoinDesk. In the future, Standard Chartered Bank also plans to create a cryptocurrency settlement network. Earlier this year in May, Standard Chartered Bank announced plans to launch digital asset custodial services in Dubai International Financial Center (DIFC) upon obtaining regulatory approval. The service will target institutional clients from around the world and will be supported by its subsidiary, Zodia Custody.