Standard Chartered has become the first international financial institution to offer direct spot trading of Bitcoin and Ethereum for its institutional clients.
Launch Mechanics and Client Access
According to reports, the new service will allow institutional clients including asset managers, corporations, and large investors to trade BTC and ETH directly using the bank's established FX trading interfaces.
Standard Chartered emphasized that trades are 'deliverable,' meaning that clients will receive actual crypto assets upon settlement rather than just exposure via derivatives. Additionally, users can choose their own custodian, including Standard Chartered’s in-house service.
Initially, the offering will be available during Asian and European trading hours, with potential demand determining whether there will be 24/5 access in the future.
The bank also plans to introduce non-deliverable forwards (NDFs) trading for the two largest crypto assets by market cap.
Broader Crypto Strategy
The UK spot trading launch is just one piece of Standard Chartered’s growing arsenal of digital asset solutions. Earlier this year, the bank established a dedicated Luxembourg entity to offer regulated crypto custody services within the EU.
At the same time, it has partnered with Animoca Brands and HKT to develop a Hong Kong dollar-pegged stablecoin, indicating its interest in tokenization.
Market and Competitors
Competitors like JPMorgan and Goldman Sachs have taken a more cautious approach to direct crypto spot trading, with analysts criticizing this stance. For instance, Nate Geraci, co-founder of The ETF Institute, pointed out that the refusal of institutions like Vanguard to offer crypto products could alienate investors seeking exposure to such assets.
Meanwhile, Standard Chartered Group CEO Bill Winters has consistently stated that 'digital assets are here to stay.' The company’s aggressive positioning gives it an early-mover advantage in a market where deep-pocketed investors are increasingly demanding secure, compliant crypto exposure.
The launch of spot trading for Bitcoin and Ethereum by Standard Chartered underscores the bank's efforts to integrate digital assets into traditional finance and its readiness to adapt to the growing demands of clients.
