Standard Chartered launches a spot trading desk for Bitcoin and Ethereum in London, integrated into the bank’s currency trading unit.
The bank states that it is closely collaborating with regulators to support institutional demand for cryptocurrencies and aims to be the first in its class to offer such products.
Standard Chartered is already backing Zodia Custody and Zodia Markets, further solidifying its involvement in the crypto sector.
Beginning of Operations in London
According to sources close to the matter, the new trading desk will soon start operations and will be integrated into the bank’s currency trading unit (FX).
This move positions Standard Chartered as one of the first major banks to enter the spot crypto trading arena, a separate activity from crypto derivatives trading, which other financial institutions have been practicing for several years.
Regulation and Involvement in the Crypto Sector
Standard Chartered has expressed its commitment to closely work with regulators to support the demand from its institutional clients.
We have closely collaborated with our regulators to meet the demand from our institutional clients for Bitcoin and Ethereum trading, aligning with our strategy to support clients across the digital asset ecosystem, from access and custody to tokenization and interoperability.
Standard Chartered’s involvement in the crypto sector is well established. The bank supports digital asset custodian Zodia Custody as well as the exchange arm Zodia Markets.
