Markets
Standard Chartered to launch Crypto Trading Desk for Bitcoin and Ethereum
Standard Chartered is set to launch its own spot cryptocurrency trading desk, focusing on the two major cryptocurrencies: Bitcoin and Ethereum.
According to The Bloomberg report, this initiative will be integrated into the bank’s foreign exchange division, operating from London’s financial district. The move responds to growing demand from institutional investors keen to explore the crypto sector.
We have worked closely with our regulators to meet the demand from our institutional clients to trade Bitcoin and Ethereum,” Standard Chartered said in an email, highlighting its commitment to the broader asset ecosystem. digital. This approach aligns with the bank’s strategy to offer comprehensive services, from access and custody to tokenization and interoperability.
Additionally, the bank has already invested in digital asset companies including Zodia Custody and Zodia Markets, offering a range of services from secure storage to over-the-counter trading.
Zodia, Banking Giant Standard Chartered’s cryptocurrency custody business, launches in Hong Kong
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Additionally, the London-based bank recently unveiled Libeara, a blockchain unit dedicated to tokenizing real-world assets. This company has already made headlines for supporting the rollout of a tokenized government bond fund using the Singapore dollar.
This development comes as the price of Bitcoin saw a 1.8% decline over the past 24 hours and is currently trading at $63,849.
Current Bitcoin Price | Source: CoinMarketCap