U.K-Based Banking Giant Standard Chartered Is Setting Up A Spot Bitcoin, Ether Trading Desk ⋆ ZyCrypto
The post U.K-Based Banking Giant Standard Chartered Is Setting Up A Spot Bitcoin, Ether Trading Desk ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     British multinational bank Standard Chartered is creating a Bitcoin and Ethereum trading desk in London, according to a recent report. If launched, Standard Chartered would become one of the first banks in the world to enter spot crypto trading. Standard Chartered Ventures Into Spot Crypto Trading According to a Bloomberg report citing two people familiar with the matter, Standard Chartered is close to launching a spot trading desk for buying and selling BTC and ETH following the approval of spot Bitcoin and Ethereum ETFs in the U.S. The new desk will be run from London, United Kingdom, and part of Standard Chartered’s Forex trading unit. The offering will expand the multinational bank’s suite of crypto asset services, including crypto custody and OTC trading. “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 posited in a statement. StanChart holds stakes in institutional crypto custodian Zodia Custody and its exchange arm, Zodia Markets. Establishing its own spot crypto trading desk indicates a clear intention to enter the cryptocurrency world. Advertisement   The banking behemoth has been bullish on crypto in recent months. In May, analysts from the bank said they envision Bitcoin and Ethereum setting new record highs after the SEC’s greenlighting of U.S.-listed spot ETH exchange-traded funds (ETFs). The bank later forecasted that Solana and XRP ETFs were next in line for SEC approval. Community Lauds Standard Chartered’s Crypto Move Crypto community members celebrated Standard Chartered’s decision to launch its spot crypto trading desk. Binance CEO Richard Teng took to X to welcome the British bank into the crypto arena. One member of…
Filed under: News - @ June 22, 2024 6:26 am