Standard Chartered, a British multinational bank, is set to launch a trading desk for Bitcoin (BTC) and Ether (ETH). This move marks a significant step for the bank, as it becomes one of the first global banks to engage in spot cryptocurrency trading. The new desk will be integrated into the bank’s FX trading unit and will operate from London.
Standard Chartered has been actively involved in the digital asset space, partnering with various entities and expanding its services to cater to the growing demand for crypto exposure. The bank has also invested in cryptocurrency firms, such as Zodia Custody and Zodia Markets, which offer services ranging from custody to over-the-counter trading.
The new crypto desk is close to starting operations, with sources indicating that it will be based in London. The desk will be part of the bank’s FX trading unit and will offer spot trading services for BTC and ETH. This move is seen as a significant endorsement of the growing legitimacy of cryptocurrencies and could boost investor confidence and drive adoption.
The crypto community has welcomed the news, with many seeing it as a major step forward for the industry. Some analysts believe that this move could lead to more mainstream acceptance of cryptocurrencies, while others predict that it will drive more institutional investment into the space.
The demand for Bitcoin and Ethereum from institutional clients has been growing, with many banks and financial institutions looking to expand their offerings to include crypto assets. Standard Chartered has been working closely with regulators to support this demand and has been actively engaged in the digital asset space.
Standard Chartered has also been involved in tokenization and custody services. The bank launched its tokenization platform, Libeara, in November 2024, which focuses on developing a tokenized government bond fund denominated in the Singaporean dollar.
The regulatory environment for cryptocurrencies is evolving rapidly. The approval of spot Bitcoin ETFs in the United States has been a significant factor in the growing demand for crypto assets. Standard Chartered has been working closely with regulators to ensure compliance and support the growing demand from institutional clients.
Standard Chartered’s decision to launch a trading desk for Bitcoin and Ether marks a significant step forward for the bank and the broader cryptocurrency industry. The move is seen as a major endorsement of the growing legitimacy of cryptocurrencies and could boost investor confidence and drive adoption.
As the regulatory environment continues to evolve, it is likely that we will see more financial institutions follow Standard Chartered’s lead and offer crypto trading services to their clients.
Top comments (1)
It’s all inevitable… one domino falling at a time.