Standard Chartered to Introduce Bitcoin and Ether Trading Platform

Standard Chartered’s new crypto platform will operate from London.

British multinational banking giant Standard Chartered is preparing to launch a trading platform specifically for Bitcoin and Ether. This move positions it among the first major global banks to engage in direct cryptocurrency trading.

Standard Chartered Enters the Spot Trading Market
According to sources referenced in a recent Bloomberg report, the new crypto trading platform is nearing completion and will be incorporated into the bank’s foreign exchange trading division. One insider mentioned that the platform will be headquartered in London.

While Standard Chartered has yet to officially confirm this new venture, it has acknowledged the rising interest in Bitcoin and Ethereum from its institutional clients.The bank has been increasing its involvement in the digital assets sector to meet growing institutional demand.
It currently holds investments in two crypto firms – Zodia Custody and Zodia Markets – that provide services such as custody and over-the-counter trading.Last year, Coinbase announced a strategic banking partnership with Standard Chartered for its Singaporean customers.

Later in the year, Standard Chartered launched “Libeara,” a blockchain division aimed at helping institutional clients tokenize traditional assets. This unit is currently working on developing a tokenized government bond fund denominated in Singaporean dollars.

Standard Chartered’s Positive Outlook on Digital Assets
In a blog post from February this year, Standard Chartered emphasized its belief that digital assets will be a significant and lasting component of the future financial services landscape. The bank also highlighted the potential of stablecoins.

The institution has been notably optimistic about the future of Bitcoin, predicting that the cryptocurrency could reach a value of $250,000 by 2025, provided that spot ETF inflows hit a midpoint estimate of $75 billion.

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