EddieJayonCrypto
21 Jun 24
Standard Chartered is set to become one of the first global banks to enter spot cryptocurrency trading, with the establishment of a spot trading desk for bitcoin and ether. The new London-based desk, part of the bank's FX trading unit, will commence operations soon. The bank has been working with re...
Standard Chartered is set to become one of the first global banks to enter spot cryptocurrency trading, establishing a spot trading desk for bitcoin and ether in London. The bank's FX trading unit will oversee this new venture, catering to institutional clients' demand for trading Bitcoin and Ethereum as part of its broader support for the digital asset ecosystem.
In addition to its foray into cryptocurrency trading, Standard Chartered is also involved with digital asset custodian Zodia Custody and its exchange arm, Zodia Markets. The bank's confirmation of this news, reported by Bloomberg and confirmed via email, marks a significant step in its journey towards embracing the digital currency landscape.
Standard Chartered's proactive approach towards cryptocurrency reflects a broader trend, as more traditional financial institutions recognize the growing demand for digital asset services. By engaging with regulators and expanding its capabilities to encompass access, custody, tokenization, and interoperability, the bank is positioning itself at the forefront of the evolving digital asset ecosystem.