Standard Chartered becomes first global bank to offer institutional Bitcoin and Ethereum trading.
Standard Chartered becomes the first global bank to offer spot Bitcoin and Ethereum trading for institutional clients. The bank's UK arm will provide direct access to buy and sell the two largest cryptocurrencies through a secure and fully compliant trading platform.
Standard Chartered has indeed become the first global bank to offer institutional Bitcoin and Ethereum trading. Here's what's happening!
Spot Trading: The bank's UK arm now offers direct access to buy and sell Bitcoin and Ethereum for institutional investors through a secure and fully compliant trading platform.
FXStyle Trading: Clients can trade crypto using familiar foreign exchange tools and choose their preferred custodian, including Standard Chartered's digital custody solutions.
Crypto Derivatives: The bank plans to introduce nondeliverable forwards (NDFs) for Bitcoin and Ethereum soon, allowing investors to bet on future prices without owning the assets.
Growing Demand: Standard Chartered's move responds to increasing demand from institutional clients seeking reliable and secure access to digital assets. According to a KPMG report, 91% of hedge funds are either invested in digital assets or plan to be within the next five years.
Future Predictions: Standard Chartered's Global Head of Digital Assets Research predicts Bitcoin could hit $135,000 by September and $200,000 by yearend, driven by growing ETF inflows and corporate treasury buying.
This development marks a significant step in bridging traditional banking and blockchainbased finance, potentially paving the way for other major banks to follow suit.
