Standard Chartered Launches Bitcoin Ether Spot Trading for Institutions

Standard Chartered has made a significant move in the cryptocurrency space by launching deliverable spot trading for Bitcoin and Ether through its UK branch. This service is initially available during Asia and Europe trading hours, with the possibility of extending to 24/5 access as client demand grows. The bank's global head of digital assets, Rene Michau, emphasized that Standard Chartered is the first global systemically important bank to offer cryptoasset trading. The service is designed for institutional clients, including financial institutions such as asset managers and investors, as well as large multinational companies that are clients of the bank's corporate and investment banking division.

This development positions Standard Chartered as a pioneer in the banking sector, offering regulated, deliverable spot trading for Bitcoin and Ether to institutional clients. The new service is integrated into the bank's existing trading platforms, allowing clients to access crypto markets through familiar FX interfaces. Clients have the flexibility to settle trades with a custodian of their choice, including Standard Chartered’s in-house custody service. This integration ensures a seamless experience for clients who are already accustomed to the bank's trading platforms.

Standard Chartered has been actively involved in the crypto and digital assets space for some time. The bank offers digital assets custody and trading through its corporate and investment bank, as well as through companies it has invested in, such as Zodia Custody and Zodia Markets. Additionally, the bank provides digital asset tokenization services through its portfolio company Libeara. The new spot trading service for Bitcoin and Ether is a natural extension of these existing offerings, further solidifying the bank's commitment to the digital asset ecosystem.

The focus for now will remain on Bitcoin and Ether spot trading, with plans to expand the service suite for these crypto assets. This includes the introduction of non-deliverable forwards (NDFs) trading, which will provide clients with more options for managing their cryptoasset portfolios. The bank's strategic approach to expanding its crypto offerings demonstrates its commitment to meeting the evolving needs of its institutional clients in the digital asset space.