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Standard Chartered Launches Spot Trading for Bitcoin and Ether Via UK Branch
Standard Chartered has taken a significant step in the digital finance sector by introducing spot trading for Bitcoin (XBT/USD) and Ether (XET/USD) via its United Kingdom (UK) branch. This groundbreaking move marks a crucial milestone in the integration of traditional finance with digital assets, setting a new standard for financial institutions worldwide.
As the first global bank to offer deliverable spots of crypto assets for corporates, investors, and managers, Standard Chartered is poised to revolutionize the way businesses engage with cryptocurrencies. The launch also underscores the growing demand for crypto services, as the adoption of cryptocurrency surges globally.
“We believe that digital assets are integral to enabling new pathways for innovation, greater inclusion, and growth across the industry,” said Bill Winters, Group Chief Executive of Standard Chartered. “As client demand accelerates further, we want to offer clients a route to transact, trade, and manage digital asset risk safely and efficiently within regulatory requirements.”
The bank’s UK branch will now provide spot trading for Bitcoin and Ether, allowing institutional clients to buy and sell these assets directly with the bank. This service aims to cater to the growing interest in digital assets among corporate investors, hedge funds, and other financial institutions.
Standard Chartered is not only offering spot trading but also providing custody services for digital assets through its Corporate and Investment Bank and its ventures with Zodia Markets. Additionally, the bank will offer digital asset tokenization (tokenization of real-world financial assets) services via its partnership with Libeara.
Tony Hall, Global Head of Trading and XVA at Standard Chartered, emphasized the importance of applying global standards in crypto trading. “We are leveraging our global expertise, infrastructure, and risk management frameworks to provide clients with a secure and reliable experience,” he said.
The bank’s entry into spot trading is expected to expand opportunities in the crypto space and align its standards with the rapidly evolving regulatory landscape.
Source: coinpedia.org
