Cryptocurrency
Standard Chartered Plc. Launches Crypto Trading Desk in London
Saturday. June 22 at 6:00 AM
1 min. readStandard Chartered Plc. is preparing to establish a spot trading desk for Bitcoin (BTC) and Ether (ETH) in London, as per Bloomberg. The new crypto trading desk, located in London, is nearing its launch and will operate within the banking giant's FX trading unit. This initiative by Standard Chartered, a prominent multinational bank and investment firm, signifies a significant step for global banks venturing into spot crypto trading. While some banks like Goldman Sachs have traded crypto derivatives in recent years, the stringent regulatory environment has deterred major banks from directly engaging in trading underlying assets like Bitcoin and Ethereum. Standard Chartered has collaborated closely with regulators to meet the increasing demand from institutional clients. The bank's move to introduce a trading desk for BTC and ETH aligns with its strategy to provide a range of digital asset services, including access, custody, tokenization, and interoperability. Additionally, Standard Chartered's support for FCA-regulated institutional crypto trading platform Zodia Markets further demonstrates its commitment to the evolving crypto landscape.