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The multinational Standard Chartered Bank has officially begun offering Bitcoin and other crypto custodial services to the United Arab Emirates (UAE). The services officially began on Tuesday, according to a press release. Moreover, the offering will be provided through Brevan Howard Digital, a crypto division of the hedge fund, as its very first client. The bank was approved by the Dubai Financial Services Authority to offer custody services. Indeed, it is another example of the UAE’s position at the forefront of crypto regulation. The institution noted that the offering debuts following a memorandum of understanding (MoU) signed in May of last year. Source: Reuters Also Read: Standard Chartered, JPMorgan Blockchain Payment Firm Raises $60M Standard Chartered Bank Launches Crypto Custody Offering in UAE The last several years have seen crypto regulation on a global scale evolve. Nations have sought to develop the ways in which they govern the growing sector. During that process, ...

The United Arab Emirates ( UAE ) is asking BRICS countries to settle Oil trade in local currencies and not the U.S. dollar. The Middle Eastern nation is aiming to diversify its economic partnerships by renewing payment methods for Oil trade deals. The UAE is approaching China, Russia, India, and Egypt, among other nations to pay local currencies for Oil settlement and sideline the U.S. dollar. Read here to know how many sectors in the U.S. will be affected if BRICS stops using the dollar. Also Read: BRICS : U.S. Dollar Dips Against Local Currencies According to reports, the UAE is in talks with 15 countries and is promoting local currency payments ending reliance on the U.S. dollar. The realigning of bilateral strategic partnerships could lead to a paradigm shift in the financial approach of BRICS countries. Controlling the global oil sector by ending reliance on the U.S. dollar could make BRICS turn into an economic powerhouse. Also Read: BRICS: China, Russia & Ind...