Standard Chartered, a titan in the global banking arena, is making waves with its new venture into cryptocurrency. As of today, the bank has launched an innovative service allowing institutional clients to trade spot Bitcoin (BTC) and Ether (ETH), marking a significant milestone as the first global bank to offer such a service. This groundbreaking move, executed through its UK branches, is set to reshape the landscape of institutional crypto trading.
A New Era for Institutional Crypto Trading
Standard Chartered’s bold leap into spot crypto trading comes at a time when digital assets are increasingly capturing the attention of major financial players. Rene Michau, the bank’s global head of digital assets, highlighted the significance of this development, stating, “Standard Chartered is the first global systemically important bank to be offering cryptoasset trading.” It’s not just a first for the bank, but a potential game-changer for the broader financial industry. The service is currently accessible during Asia and Europe trading hours, with plans to expand to 24/5 access as client demand evolves.
This offering is tailored for institutional clients—think asset managers, large multinational corporations, and other financial heavyweights. These clients, who are already part of Standard Chartered’s corporate and investment banking division, can now navigate the uncharted waters of crypto markets through the bank’s familiar FX interfaces. By integrating crypto trading into its existing platforms, Standard Chartered is melding the old with the new in a seamless fashion.
Beyond the Basics: Custody and Tokenization
While BTC and ETH spot trading are the current focal points, Standard Chartered is not stopping there. The bank aims to broaden its services suite to include non-deliverable forwards (NDFs) trading for these assets. This expansion could further entice institutional investors, offering them new tools to hedge and speculate within the crypto domain. This follows a pattern of institutional adoption, which we detailed in our analysis of Bitcoin, Ether ETFs clocking second-biggest day of inflows.
Standard Chartered’s involvement in crypto isn’t a flash in the pan. The bank has been quietly building its digital asset capabilities through investments in companies like Zodia Custody and Zodia Markets, which offer digital asset custody and trading services. Additionally, through its portfolio company Libeara, the bank is venturing into digital asset tokenization—a nod to the evolving needs of its clientele.
The bank’s strategy seems to be a calculated response to the burgeoning interest in digital assets. By providing a comprehensive suite of services, from trading to custody and tokenization, Standard Chartered is positioning itself as a one-stop shop for institutional clients looking to dive into the crypto world.
The Ripple Effect in the Crypto Market
The implications of Standard Chartered’s move are far-reaching. For one, it could spur other global banks to follow suit, potentially normalizing crypto trading among institutional investors. This, in turn, might bolster the legitimacy of digital assets, easing some of the skepticism that still lingers in traditional financial circles. Moreover, the integration of crypto trading within a bank’s existing infrastructure is a significant step toward mainstream adoption. Institutional investors can now access crypto markets with the same ease and security as traditional assets, potentially paving the way for more sophisticated financial instruments in the future. For a deeper dive into recent trends, see our coverage of Bitcoin, Ether, Solana, XRP ETFs reaching record AUM.
Yet, questions remain. Will the demand for crypto trading among institutional clients sustain its current momentum? And as more banks enter the fray, how will this competition shape the market dynamics? Only time will tell.
In the meantime, Standard Chartered’s pioneering move is a bold statement of confidence in the future of digital assets. It not only underscores the bank’s commitment to innovation but also sets a new standard for others in the industry to follow. As the crypto landscape continues to evolve, all eyes will be on how this development influences the broader financial ecosystem.
Source
This article is based on: Standard Chartered Says It’s the First Global Bank to Offer Spot Bitcoin, Ether Trading
Further Reading
Deepen your understanding with these related articles:
- Key Market Dynamic Keeps Bitcoin, XRP Anchored to $110K and $2.3 as Ether Looks Prone to Volatility
- Ethereum Is Already Outperforming Bitcoin In July, Is Altcoin Season Here?
- Why Are Bitcoin, Ethereum and Solana Prices Still Rangebound? Experts Weigh In
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
