Standard Chartered has launched spot trading for Bitcoin and Ether aimed at institutional clients, expanding its offerings in the cryptocurrency sector.
Overview of the New Service
On July 15, Standard Chartered began offering institutional spot trading for Bitcoin (BTC/USD) and Ether (ETH/USD) through its UK branch. This new service will provide access to scalable and regulated crypto trading for asset managers and corporate clients.
Market Response and Institutional Interest
Geoffrey Kendrick, Head of FX and Digital Assets Research at StanChart, stated that the new service meets institutional clients' demands for secure access to crypto assets. A recent KPMG and AIMA report highlighted that nearly 91% of hedge funds are either already invested in crypto or plan to invest in the next five years. Additionally, Biconomy reported that over 135 public companies have included Bitcoin on their balance sheets.
Cryptocurrency and the Future of Financial Services
The CEO of Standard Chartered Group claims that cryptocurrency is a foundational element of financial service evolution. He added that digital assets enable greater inclusion and growth opportunities. The bank aims its new offering at investment banking clients and corporates, focusing first on spot trading of BTC and ETH before expanding to other crypto assets.
The launch of spot trading for cryptocurrencies marks a significant step towards integrating crypto assets within the traditional financial system, responding to the growing demands of institutional clients.
