Standard Chartered, a British bank, introduces a cryptocurrency trading desk for institutional customers that specializes in Ethereum and Bitcoin.
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The bank’s response to the growing demand from institutional clients is seen in the integration of the trading desk into its foreign exchange (FX) division. This marks a significant advancement in the integration of cryptocurrencies into traditional banking services.
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The launch is a reflection of Standard Chartered’s commitment to upholding legal requirements as well as its goal to support the broader ecosystem of digital assets, which includes services like tokenization, access, custody, and interoperability.
The bank’s entry into the cryptocurrency space is a component of a larger endeavor that also includes investments in digital asset firms Zodia Custody and Zodia Markets, as well as the recent formation of Libeara, a division dedicated to blockchain technology under the venture arm SC Ventures.
It appears Standard Chartered is demonstrating a deeper commitment to the digital asset space through direct spot trading, in contrast to other banks who have restricted their crypto operations to derivatives.
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