Standard Chartered Bank, one of the largest banks in the world with 169 years of history, has just launched spot trading services for Bitcoin and Ethereum for institutional investors in the UK. This move marks an important step in integrating cryptocurrency into the traditional financial system.
Standard Chartered's cryptocurrency trading service:
• Allowing institutional investors to buy and sell Bitcoin and Ethereum directly through a licensed and highly secure platform.
• Customers can trade digital currency just like foreign exchange and choose where to store their assets.
• The bank also plans to launch derivative products such as NDF (non-deliverable forwards) contracts for Bitcoin and Ether.
The impact of this move:
• Removing legal barriers and building trust for other large institutions to get involved.
• Bringing digital currency closer to the traditional financial system.
• Standard Chartered's CEO, Bill Winters, stated that digital assets are becoming an essential part of the future of the financial industry.