Standard Chartered Launches Bitcoin Ether Trading for Institutional Clients

Standard Chartered, a major UK bank, has expanded its digital asset offerings by launching a new service that allows institutional clients to trade Bitcoin and Ether through its UK branch. This development marks a significant milestone as Standard Chartered becomes the first global systemically important bank to provide regulated, deliverable spot trading for these digital assets.

The new service offers spot trading pairs for Bitcoin (XBT/USD) and Ether (XET/USD), with plans to introduce non-deliverable forwards trading in the future. This initiative is designed to cater to a wide range of institutional clients, including corporates, investors, and fund managers, providing them with a secure, regulated, and scalable platform for cryptocurrency trading.

Institutional clients can settle trades with their preferred custodians, including Standard Chartered’s own digital asset custody solutions. The bank, as an FCA-registered crypto asset service provider, ensures that its services are backed by institutional-grade risk controls and a robust trading platform. This integration with existing foreign exchange platforms allows clients to trade cryptocurrencies through familiar interfaces, addressing common barriers that institutional clients face when entering the cryptocurrency market.

Bill Winters, Group Chief Executive of Standard Chartered, highlighted the strategic importance of digital assets in the evolution of financial services. "Digital assets are a foundational element of the evolution of financial services. They’re integral to enabling new pathways for innovation, greater inclusion and growth across the industry," he stated. This perspective underscores the bank's commitment to embracing digital assets as a key component of its future strategy.

Standard Chartered's digital asset capabilities extend beyond trading and custody. The bank provides banking services to numerous cryptocurrency firms and stablecoin issuers, including partnerships with various industry leaders. Through its subsidiary SC Ventures, the bank has founded several independent cryptocurrency-focused companies, such as Zodia Custody, Zodia Markets, and the tokenized fund platform Libeara. Additionally, Standard Chartered maintains investments in institutional platforms, further solidifying its position in the digital asset space.

The launch of this new service is part of Standard Chartered's broader initiative to integrate digital assets into its financial services offerings. By leveraging its regulated framework and extensive infrastructure, the bank aims to attract more institutional clients who are seeking secure and regulated ways to trade cryptocurrencies. This move is expected to drive innovation and growth in the digital asset market, positioning Standard Chartered as a leader in the evolving financial landscape.