Bitcoin
Banking Giant Standard Chartered to Launch Bitcoin, Ethereum Trading Desk: Details by U.Today
U.Today – As reported by Bloomberg, banking giant Standard Chartered (OTC:) may be about to launch a dedicated trading desk for e, according to sources close to the matter. This bold step positions Standard Chartered as one of the pioneering global banks to embrace cryptocurrency spot trading.
The upcoming crypto desk is approaching operational readiness and is expected to become an integral component of the bank’s foreign exchange (FX) trading division. The initiative, shrouded in secrecy, has been shared by people who prefer to remain anonymous due to the sensitivity of the information.
Set to be managed in London, the cryptocurrency trading desk will mark a significant pivot toward digital assets for Standard Chartered, a bank with a storied history in traditional finance. This measure signals the bank’s recognition of the growing importance of cryptocurrencies on the global financial scene.
Standard Chartered is one of several prominent banks expanding their tentacles into cryptocurrency as institutional use grows. It has investments in two cryptocurrency companies, Zodia Custody and Zodia Markets, which provide services ranging from custody to over-the-counter trading.
In recent Bitcoin news, Australia’s largest stock exchange listed its first Bitcoin (BTC) exchange-traded fund (ETF) on Thursday, as global demand for an easy way to invest in cryptocurrencies grows.
The VanEck Bitcoin ETF () began trading on the Australian Securities Exchange (ASX), which accounts for 90% of the country’s stock market.
The day before, Michael Saylor, CEO and co-founder of MicroStrategy, stated that the company acquired an additional 11,931 BTC for approximately $786 million, using convertible note proceeds and excess cash at nearly $65,883 per Bitcoin. MicroStrategy now owns 226,331 BTC, purchased for around $8.33 billion at an average price of $36,798 per Bitcoin.