Standard Chartered has launched a new service allowing institutional clients to trade Bitcoin and Ethereum, marking a significant step for the bank as the first global bank to offer regulated spot trading on these digital assets.
Spot Trading for Institutional Clients
The new service, provided through Standard Chartered's UK branch, allows institutional clients access to spot trading for Bitcoin and Ethereum. It also provides the option for settlement through preferred custodians or the bank's internal custody services.
Increasing Interest from Institutional Investors
The launch of spot trading responds to the increased interest from institutional clients in digital assets. With the recent surge in the cryptocurrency market, including Bitcoin's record high of $123,000, many firms are searching for ways to enter the crypto market while staying compliant with financial regulations.
Regulatory Landscape and Future of Crypto Trading
The rollout of the spot trading standards coincides with global regulatory discussions surrounding cryptocurrency. Regulatory bodies in various countries are currently working on new legislative initiatives to support digital assets. Standard Chartered plans to expand its crypto services based on market demand and regulatory changes.
Thus, Standard Chartered is actively enhancing its position within the realm of digital asset trading, taking into consideration the needs of institutional clients and regulatory requirements.
