Standard Chartered to Launch Spot Crypto Trading for Bitcoin, Ethereum
The British multinational banking and financial services firm, Standard Chartered, is set to launch a spot cryptocurrency trading platform for Bitcoin and Ethereum. According to sources, this new venture will handle transactions in these two major cryptocurrencies.
Standard Chartered Ready to Launch Crypto Trading
On June 21, Bloomberg’s Emily Nicolle reported that Standard Chartered is on the verge of introducing a spot cryptocurrency trading desk within its foreign exchange (FX) division. This desk will manage transactions involving Bitcoin (BTC) and Ethereum (ETH). The bank’s email communication emphasized its commitment to meeting institutional client demands while working closely with regulators.
Commitment to Digital Assets
Standard Chartered has been active in the cryptocurrency space for some time. The bank’s analysts predict that Bitcoin could reach six figures. Recently, they projected Bitcoin might hit $100,000 within this year and possibly $150,000 if certain political conditions align. Additionally, Standard Chartered’s market strategists had correctly anticipated that the U.S. Securities and Exchange Commission (SEC) would approve spot Ethereum exchange-traded funds (ETFs).
Embracing the Future of Finance
By launching this new trading platform, Standard Chartered aims to support the broader digital asset ecosystem. This initiative aligns with their strategy to provide clients with access, custody, tokenization, and interoperability of digital assets. The bank’s ongoing engagement in cryptocurrency investments reflects its forward-thinking approach and commitment to innovation in the financial sector.
