The post Standard Chartered Crypto Ventures: Launches Bitcoin Trading appeared on BitcoinEthereumNews.com.

Financial banking giant Standard Chartered has confirmed plans to launch a Bitcoin (BTC) and Ethereum (ETH) trading desk in London. The move is in line with a growing trend in institutional adoption for cryptocurrencies that could drive prices higher. Billion-dollar banking giant Standard Chartered has revealed that it is nearing the opening of a Bitcoin (BTC) and Ethereum (ETH) trading desk in London. The banking giant is working on a new trading desk that will expose its institutional clients to the crypto industry, beginning with Bitcoin and Ethereum. The bank is following in the strides of Goldman Sachs Group Inc. which has been trading cryptocurrencies derivatives for years. However, this has been accomplished with strict regulations with the Basel Committee on Banking Supervision proposing that banks must apply a 1,250% risk weighting to any unhedged crypto exposure. In a detailed email, the bank noted this initiative was driven by institutional demand, adding: We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability, As highlighted by blockchain researcher Collin Brown, this move marks a significant step in the mainstream financial adoption of digital assets. 🚀 BREAKING: Billion-Dollar Bank Standard Chartered is pioneering institutional crypto trading with a new desk in London for #Bitcoin and #Ether. This move marks a significant step in mainstream financial adoption of digital assets. The bank, known for its global reach, aims to… pic.twitter.com/QX8YPCdEBy — Collin Brown (@CollinBrownXRP) June 21, 2024 Institutional investors have proven to be key to driving crypto prices. This has been evident with the launch of Bitcoin spot ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated over $20 billion, making it…

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Filed under: News - @ June 24, 2024 8:26 am