Markets
Standard Chartered enters the crypto trading arena
Image: Standard Chartered
British bank Standard Chartered has launched a cryptocurrency spot trading operation in London, aimed at institutional investors with a focus on Bitcoin and Ethereum.
The trading desk, integrated within the bank’s existing foreign exchange (FX) division, is a direct response to growing demand from institutional clients and represents a major step forward in the integration of cryptocurrencies into conventional banking offerings .
This launch reflects Standard Chartered’s commitment 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 commitment, including investments in digital asset businesses Zodia Custody and Zodia Markets, and the recent creation of a blockchain-focused division , Libeara, under its venture capital 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 the digital asset space.