Standard Chartered Bank officially launched spot trading services for Bitcoin and Ethereum for institutional clients at the UK branch.
This service meets the growing demand of cryptocurrency investors through the familiar forex trading platform, while ensuring safety, regulatory compliance, and scalability.
MAIN CONTENT
Standard Chartered is the first global bank to offer spot trading for Bitcoin and Ethereum to institutional clients.
The bank is committed to implementing additional non-deliverable forward trading services to optimize risk management for clients.
How does Standard Chartered provide cryptocurrency trading services?
Standard Chartered CEO, Bill Winters, stated that the launch of Bitcoin and Ethereum trading services is an important step to meet the increasing demand from institutional clients. Clients such as companies, investors, and asset managers can now use a familiar forex trading interface to access the cryptocurrency market in full legal compliance.
Integrating this service into the existing system helps customers take advantage of convenience and minimize technical barriers when entering the cryptocurrency field. Next, Standard Chartered will develop additional non-deliverable forward trading products to diversify options and manage risks effectively.
We see a growing demand for cryptocurrencies in the institutional market. Standard Chartered is committed to providing customers with a safe, efficient, and fully compliant trading journey.
Bill Winters, CEO of Standard Chartered, 15/07/2024
What position does Standard Chartered hold in the cryptocurrency trading services market for institutions?
Standard Chartered is currently the first important global system bank to provide safe, compliant, and scalable spot trading services for Bitcoin and Ethereum. This creates a significant competitive advantage as many major banks have not yet offered similar services.
This activity aligns with the strong movement of traditional finance into cryptocurrency, helping the bank consolidate its reputation and expand its market share among institutional clients in the digital asset sector.
How does this service impact institutional clients?
Instead of having to search for and use decentralized or unofficial cryptocurrency exchanges, institutional clients can now confidently trade through the bank with clear safety and legal regulations. Using the familiar forex trading platform also helps reduce training costs and increase risk control.
Features and development plan for non-deliverable forward trading services
Standard Chartered plans to add non-deliverable forward trading services to support institutional clients in hedging against price volatility in the cryptocurrency market. This is a popular financial tool that effectively manages price risk, especially in fast-moving markets like cryptocurrency.
This plan shows that the bank not only serves spot trading but also builds a comprehensive financial solution, enhancing its reputation and capability in managing digital assets.
Comparison of Standard Chartered's cryptocurrency services with other banks
Criteria Standard Chartered Traditional Banks Bitcoin & Ethereum Trading Service Spot Trading for Institutional Clients Not popular or not officially offered Trading Interface Familiar Forex Interface Often requires using separate complex platforms Legal Compliance Ensures safety and strict compliance May be lacking or incomplete Futures Service (Non-Deliverable Forward) Under development to enhance risk management support Rarely or not implemented
Frequently Asked Questions
When did Standard Chartered start offering Bitcoin and Ethereum trading? The service was launched in July 2024 at the UK branch, targeting institutional clients. What differentiates Standard Chartered from other banks? The bank is the first important global system to provide spot trading services for Bitcoin and Ethereum with a familiar forex interface and strict legal compliance. What benefits do institutional clients gain from this service? Easy, safe access to cryptocurrencies, risk management solutions, and trading on a familiar platform. What are the bank's next plans for cryptocurrency services? Preparing to launch non-deliverable forward trading services to support hedging against price volatility. Is this service suitable for individual investors? The service is currently focused on institutional clients and has not yet expanded to individual investors.
Source: https://tintucbitcoin.com/standard-chartered-ra-mat-dich-vu-spot-bitcoin/
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