Blockchain
Standard Chartered enters the cryptocurrency trading arena
British bank Standard Chartered has launched a spot cryptocurrency trading operation in London, targeting 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 big step forward in incorporating cryptocurrencies into conventional banking offerings.
The 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, tokenisation and interoperability.
The bank’s foray into cryptocurrency is part of a broader effort, which includes investments in digital asset firms Zodia Custody and Zodia Markets, and the recent creation of a blockchain-focused division, Libeara, under its venture arm SC Ventures.
Unlike other banks that have limited their crypto activities to derivatives, Standard Chartered’s direct spot trading signals a deeper commitment to the digital asset domain.