Standard Chartered has taken a significant step into the world of cryptocurrencies by launching spot trading services for Bitcoin and Ethereum for institutional investors.
New Services for Institutional Investors
The bank’s new service focuses on institutional clients, providing them with direct access to deliverable Bitcoin (BTC) and Ethereum (ETH) through a secure and fully compliant trading platform.
Plans for Expansion in the Crypto Sector
The bank is not stopping there. Following the launch, it plans to introduce crypto derivatives, including non-deliverable forwards (NDFs), which will allow investors to speculate on the future price of Bitcoin and Ether without owning the coins directly.
Impact on the Cryptocurrency Market
Group CEO Bill Winters explained that digital assets are becoming an essential part of the financial future. The introduction of such services helps remove the barrier for large investors seeking secure and regulated ways to enter the crypto market.
The launch of crypto trading services by Standard Chartered could catalyze other major banks to follow suit, promoting further integration of cryptocurrencies into the traditional banking system.
