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Standard Chartered begins UAE crypto custody services with BTC, ETH

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Standard Chartered has announced the expansion of its cryptocurrency custody services to the United Arab Emirates (UAE), marking a significant step in the bank’s efforts to enhance its presence in the digital asset space.

The move is part of Standard Chartered’s broader strategy to offer comprehensive digital asset solutions and cater to the growing demand for secure and regulated cryptocurrency services. The bank will provide institutional-grade custody solutions for a range of digital assets, including Bitcoin and Ethereum, to clients in the UAE.

This expansion reflects the UAE’s increasing prominence as a global hub for digital finance and innovation. The region has been actively developing its regulatory framework to support the growth of cryptocurrencies and blockchain technology, positioning itself as a key player in the evolving financial landscape.

Standard Chartered’s crypto custody services are designed to meet the highest standards of security and regulatory compliance. The bank will leverage its existing infrastructure and expertise to offer robust solutions that address the needs of institutional investors and other high-net-worth clients.

“Expanding our crypto custody services to the UAE underscores our commitment to supporting the digital asset ecosystem and providing our clients with secure and reliable solutions,” said a spokesperson from Standard Chartered. “The UAE is a pivotal market for digital finance, and we are excited to contribute to its growth and innovation.”

The introduction of these services is expected to strengthen Standard Chartered’s position in the competitive cryptocurrency market and attract institutional clients looking for reputable custodians for their digital assets. The bank’s move aligns with a broader trend of traditional financial institutions entering the crypto space and offering specialized services to meet evolving client needs.

As the UAE continues to position itself as a leader in digital finance, the expansion of crypto custody services is anticipated to play a crucial role in fostering trust and enhancing the overall infrastructure of the region’s digital asset market.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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