According to CoinMeta, Standard Chartered Bank ( Standard Chartered ) has launched an encrypted trading service in the United Arab Emirates that allows eligible investors to buy and sell Bitcoin ( BTC ) and Ethereum ( ETH ) through their existing bank accounts. The service will initially be available to customers classified as professional investors, and Standard Chartered Bank states that this is a first of its kind for international banks in the UAE and globally. The bank will manage custody and settlement through its own ecosystem, and customers will not need a separate cryptocurrency wallet or third-party trading platform. Standard Chartered Bank has obtained permission from the Dubai Virtual Assets Regulatory Authority ( VARA ) and plans to expand this new trading service to other markets.