Bitcoin
Standard Chartered enters the crypto trading arena
Image: Standard Chartered
British bank Standard Chartered has started a cryptocurrency spot trading operation in London, serving institutional investors focusing on Bitcoin and Ethereum.
The trading desk, integrated into the bank’s existing foreign exchange (FX) division, is a direct response to growing demand from institutional clients and signifies a major leap forward in the incorporation of cryptocurrencies into mainstream banking offerings.
The launch reflects Standard Chartered’s dedication to adhering to regulatory standards and its ambition to facilitate the broader digital asset ecosystem, encompassing services such as access, custody, tokenization and interoperability.
The bank’s foray into the cryptocurrency sector is part of a broader engagement, including investments in digital asset firms Zodia Custody and Zodia Markets, and the recent establishment of a blockchain-focused division, Libeara, under its venture arm SC Ventures.
Unlike other banks that have limited their crypto activities to derivatives, Standard Chartered’s direct spot trading indicates a deeper commitment to digital asset dominance.