Shocking Banking First: Standard Chartered Offers Institutions Direct Bitcoin and Ether Trading

Standard Chartered has made a groundbreaking move by launching direct Bitcoin and Ether spot trading services for institutional clients through its UK branch. This marks a major step in bridging traditional banking and the crypto world.

The bank enables institutions and corporations to trade major cryptocurrencies through familiar foreign exchange platforms, simplifying access to digital assets. This new service aims to foster innovation and growth in financial services.

What does Standard Chartered’s new crypto service offer institutions?

The service provides spot trading for Bitcoin and Ether with custody options including Standard Chartered’s proprietary solutions and its affiliate Zodia Custody. Institutional clients can choose their preferred custodians for secure asset storage.

Trading is initially available during Asia and Europe trading hours, with potential 24/5 access in development based on demand.

Did you know?
Did you know Standard Chartered has been expanding its crypto custody services globally, including launches in the UAE and Luxembourg before the trading rollout?

How is Standard Chartered integrating crypto into traditional finance?

Standard Chartered’s crypto offering seamlessly integrates with existing platforms, allowing banks' clients to trade crypto assets alongside traditional currencies. The bank has also expanded crypto custody to the UAE and Luxembourg as part of its global strategy.

This integration signifies a strong endorsement of digital assets by a leading multinational bank.

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Standard Chartered’s plans for expanding crypto derivatives

Plans are underway to introduce crypto derivatives like non-deliverable forwards (NDFs) for institutional investors. However, the bank is currently not extending these services to retail customers, focusing exclusively on corporate and investment banking.

This staged approach reflects an emphasis on security, compliance, and client demand management.

Implications for institutional crypto adoption

Standard Chartered’s launch could be a catalyst for widespread institutional adoption, enhancing trust and liquidity in crypto markets.

As more traditional financial institutions embrace digital assets, the boundary between conventional and crypto finance is expected to blur, driving greater mainstream acceptance and innovation.

This development ushers in a new era where banks and crypto systems coexist and collaborate, potentially transforming the global finance landscape.