Standard Chartered Bank to Launch Spot Crypto Trading Desk Targeting Bitcoin and Ethereum

According to Bloomberg’s report, this initiative will be integrated into the bank’s foreign exchange division, operating from London’s financial district.

Standard Chartered is preparing to launch its own spot crypto trading desk, which will trade the two largest cryptocurrencies: Bitcoin and Ethereum, Bloomberg reports.

The initiative will reportedly be integrated into the bank's foreign exchange division, operating out of London's financial district. The move comes in response to increasing demand from institutional investors who are keen to venture into the crypto industry.

“We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum,” Standard Chartered stated in an email, adding that its commitment extends to the wider digital asset ecosystem. This approach aligns with the bank's strategy to offer comprehensive services, ranging from access and custody to tokenization and interoperability.

The bank has already made several investments in digital asset firms, including Zodia Custody and Zodia Markets, which provide services spanning from secure storage to over-the-counter trading.

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Furthermore, the London-based bank recently unveiled Libeara, a blockchain unit dedicated to tokenizing real-world assets. The venture has already made headlines by supporting the deployment of a tokenized government bond fund using the Singaporean dollar.

As this development unfolds, Bitcoin's price experienced a 1.8% decrease over the last 24 hours and is currently trading at $63,849.

News source：https://www.kdj.com/cryptocurrencies-news/articles/standard-chartered-bank-launch-spot-crypto-trading-desk-targeting-bitcoin-ethereum.html

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