International financial giant Standard Chartered Bank announced today (15th) that it is officially launching Bitcoin and Ethereum spot trading services for institutional and corporate clients, continuing to expand its cryptocurrency footprint.
Standard Chartered Bank announced that the new service is being launched first by its UK branch, currently covering trading hours in Asia and Europe. In the future, it will also consider providing a trading model of 5 days a week and 24 hours a day, depending on customer demand.
Rene Michau, Global Head of Digital Assets at Standard Chartered Bank, stated: "Standard Chartered is the first Global Systemically Important Bank (G-SIB) to offer cryptocurrency trading."
The institutional clients defined by Standard Chartered Bank include asset management institutions, investment institutions, and large multinational corporate clients.
In fact, Standard Chartered Bank has been deeply involved in the cryptocurrency field for many years. Currently, through its corporate and investment banking divisions, as well as its group-invested companies Zodia Custody and Zodia Markets, it provides digital asset custody and trading services.
As for the cryptocurrency trading service launched this time, it is seamlessly integrated with Standard Chartered's existing trading platform, allowing corporations, asset management companies, and institutional investors to directly participate in the cryptocurrency market through a familiar forex interface; trading settlements can be designated for delivery to a third-party custodian, or they can choose Standard Chartered's own custody service.
Rene Michau pointed out that the cryptocurrency spot trading service currently only supports Bitcoin and Ethereum, but there are plans to expand more trading options in the future, including Non-Deliverable Forwards (NDFs), to meet different customer needs.
"Targeting institutional clients! Standard Chartered Bank launches 'BTC, ETH Spot' trading services" was first published by (Blockcast).
