Standard Chartered Reportedly Setting Up New Crypto Asset
Standard Chartered Plc is making waves in the crypto world with reports of a new Bitcoin and Ether trading desk in the works. This move comes as the interest in crypto assets continues to grow among institutional investors.
According to Bloomberg, the trading desk is set to be operational soon and will be based in London. The bank has been working closely with regulators to meet the demand from institutional clients looking to trade Bitcoin and Ethereum. This move aligns with Standard Chartered’s strategy to support clients in the digital asset ecosystem, from access and custody to tokenization and interoperability.
Industry leaders, including Binance CEO Richard Teng, have reacted positively to the news, signaling the growing acceptance of crypto assets in the traditional financial sector. Standard Chartered already has stakes in two crypto-focused companies, Zodia Markets, and Zodia Custody, which offer services such as OTC trading and custody.
While the bank has not officially commented on the development, this move signals a significant step towards mainstream adoption of cryptocurrencies by a major financial institution. Stay tuned for more updates on this exciting development in the world of crypto trading.
