The post Standard Chartered Launches Bitcoin, Ethereum Spot Trading appeared on BitcoinEthereumNews.com.

Global banking giant Standard Chartered is entering the crypto space with a new spot trading desk for Bitcoin and Ethereum, as revealed in a Bloomberg report. This development positions Standard Chartered as one of the first major global banks to engage directly in the trading of the underlying crypto assets, an area that has seen cautious participation from major global banks primarily due to stringent regulatory landscapes. Standard Chartered Will Offer Bitcoin And Ethereum The newly established trading desk is integrated within the bank’s foreign exchange (FX) trading unit and is strategically positioned in London, a global financial hub, sources with knowledge of the situation reported. This operation is set to begin imminently, making Standard Chartered one of the first major global banks to facilitate spot trading on actual Bitcoin and Ether assets, diverging from the more commonly traded crypto derivatives. The decision to launch a spot crypto trading desk stems from a meticulous period of planning and regulatory consultations. “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,” the bank conveyed through an official statement. This initiative is not Standard Chartered’s first foray into the digital assets space. The bank has actively participated in the cryptocurrency sector through significant investments in related infrastructures, such as Zodia Custody and Zodia Markets, which provide services ranging from digital asset custody to sophisticated over-the-counter trading solutions. Further expanding its blockchain endeavors, Standard Chartered launched Libeara, a dedicated blockchain unit aimed at assisting institutions in tokenizing traditional assets. Notably, this includes an innovative project for the creation of a tokenized government bond fund denominated in Singaporean dollars, demonstrating the bank’s…

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Filed under: News - @ June 22, 2024 2:08 am