Standard Chartered has announced the launch of its cryptocurrency trading services for institutional and corporate clients. The new service integrates with the bank's existing currency systems and provides access to crypto markets through familiar interfaces.
Overview of the New Service
The new service from Standard Chartered allows institutional and corporate clients to access cryptocurrency markets. It will operate within the bank's existing currency systems, initially available during European and Asian trading hours, with potential expansion to 24/5 as demand grows.
Custodial Solutions
Clients can choose from several custodial solutions, including Standard Chartered's in-house option and affiliated provider Zodia Custody. These options will help clients effectively store and manage their crypto assets.
Future Plans
The bank plans to expand its offerings by adding crypto derivatives, starting with non-deliverable forwards. However, currently, the bank has no plans to target retail users.
The launch of Standard Chartered's cryptocurrency trading service underscores the traditional banking sector's push towards blockchain and tokenized assets, providing a regulated and scalable offering for institutional clients.
