Standard Chartered Bank offers Bitcoin and Ethereum trading 🚀😱

Welcome to Standard Chartered’s New Spot Trading Desk for Bitcoin and Ethereum!

Global banking giant Standard Chartered is venturing into the crypto space with the launch of a new spot trading desk dedicated to Bitcoin and Ethereum. This move positions Standard Chartered as one of the pioneering major global banks to directly engage in the trading of the actual crypto assets. This initiative comes at a time when the crypto industry is experiencing increased institutional adoption and interest from traditional financial institutions.

Spot Crypto Trading Desk Launch

The newly established trading desk will be embedded within Standard Chartered’s foreign exchange (FX) trading unit and will be based in London, a prominent global financial center. Sources familiar with the matter indicated that the operation is slated to kick off soon, marking Standard Chartered as one of the initial major global banks to facilitate spot trading on real Bitcoin and Ether assets, deviating from the more prevalent practice of trading crypto derivatives.

The spot trading desk integrates with the FX trading unit
Operates from London, a key global financial hub
Facilitates spot trading for Bitcoin and Ethereum

Regulatory Preparations and Consultations

The decision to establish a spot crypto trading desk followed a period of thorough planning and regulatory discussions. Standard Chartered worked closely with regulators to address the demand from institutional clients looking to trade Bitcoin and Ethereum. The bank’s strategy aims to support clients in the broader digital asset ecosystem, covering areas from access and custody to tokenization and interoperability.

Strategic planning and regulatory consultations precede the launch
Strict collaboration with regulators to meet institutional client needs
Comprehensive support for clients within the digital asset space

Diverse Blockchain Initiatives

Standard Chartered’s presence in the digital assets domain extends beyond the new spot trading desk. The bank has been actively involved in the cryptocurrency sector through investments in related infrastructure projects like Zodia Custody and Zodia Markets. These ventures offer services ranging from digital asset custody to sophisticated over-the-counter trading solutions.

Investments in Zodia Custody and Zodia Markets
Comprehensive services from custody to trading solutions
Continued participation in the cryptocurrency sector

Blockchain Integration for Traditional Assets

The bank’s blockchain endeavors also include Libeara, a specialized blockchain unit designed to help institutions tokenize traditional assets. A standout project involves creating a tokenized government bond fund denominated in Singaporean dollars, showcasing Standard Chartered’s commitment to merging blockchain technology with conventional financial instruments.

Launch of Libeara for blockchain integration
Tokenization of traditional assets including government bonds
Focus on merging blockchain with existing financial infrastructure

Market Analysis and Price Predictions

In addition to operational initiatives, Standard Chartered remains engaged in the crypto market through in-depth analysis and forecasts. Notably, the bank’s analysts, led by Geoffrey Kendrick, have issued optimistic predictions for Bitcoin’s price trajectory ahead of significant events like the US presidential elections.