Bloomberg reported that Standard Chartered Bank is preparing to launch a trading platform for Bitcoin and Ethereum, becoming one of the first global banking institutions to open spot trading for cryptocurrencies. Standard Chartered has neither confirmed nor denied this, but has indicated that there is indeed demand from its institutional clients, and the bank has been actively exploring and collaborating with various parties on this matter.
Title: Standard Chartered Bank Plans to Launch BTC and ETH Trading Platform
Cryptocurrency Community Celebrates
According to the report, Standard Chartered Bank is creating a spot trading platform for cryptocurrencies, specifically for buying and selling Bitcoin and Ethereum.
Bloomberg noted that this trading platform will be under the umbrella of Standard Chartered Bank’s foreign exchange trading department and will operate in London.
Interestingly, Standard Chartered has not responded directly to this news, but has ambiguously stated that there is indeed demand from its clients for these types of transactions:
“We have been working closely with regulatory authorities to support our institutional and client demand for trading Bitcoin and Ethereum.”
The bank also added, “This is in line with our strategy to support clients in a broader digital asset ecosystem, from custody to tokenization and operability.”
Previously, most other banks only traded derivatives of cryptocurrencies, which is why Standard Chartered’s move is receiving special attention.
(As Goldman Sachs, the Wall Street giant, partners with Galaxy Digital for its first over-the-counter Bitcoin trading!)
Although Standard Chartered has not officially confirmed the authenticity of this news, the cryptocurrency community has already expressed excitement about this potential development.
Firstly, Binance CEO Richard Teng welcomed Standard Chartered Bank’s entry into the cryptocurrency field on social media platform X.
Another user believes that Standard Chartered’s move is an “important step” and a significant recognition of the legitimacy of cryptocurrencies:
“This may boost investors’ confidence and drive adoption, resulting in more capital inflow.”
As a supporter of digital asset custody institution Zodia Custody and its trading department Zodia Markets, Standard Chartered Bank’s move is also seen as the next step in entering the cryptocurrency field.
Another entity actively exploring the cryptocurrency field is Wall Street giant Goldman Sachs. Max Minton, the firm’s head of digital assets in the Asia-Pacific region, revealed in March that many of the company’s large clients have recently started exploring the cryptocurrency field:
“The recent approval of Bitcoin spot ETF has sparked interest from our clients and a resurgence of related activities.”
On the other hand, Standard Chartered is also particularly interested in the cryptocurrency market and Bitcoin price, often making predictions about Bitcoin price every few months.
(Standard Chartered and Matrixport call for Bitcoin to reach new highs in a few days, with positive impact from ETH ETF approval)
Of course, as a multinational financial group, any comments and analysis publicly released about any market still require further verification.
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