Global banking giant Standard chartered launches a spot trading desk for Bitcoin and Ether, positioning itself as one of the first major banks to offer direct spot trading services for Bitcoin.
BREAKING: $800 billion Standard Chartered Bank builds a place #Bitcoin trading desk – Bloomberg
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According to recent reports from BloombergThe new Bitcoin trading desk in London will soon be operational and will be part of the bank’s FX trading unit. Standard Chartered has been bullish on Bitcoin for years and is now looking to meet the rising institutional demand.
Standard Chartered said: “We have worked closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ether.”
The bank already offers crypto custody through its stake in Zodia Custody. It is also an investor in Zodia Markets, which trades institutional Bitcoin and crypto. This bolt-on trading desk represents the next phase in Standard Chartered’s Bitcoin push.
The move comes as Bitcoin ETFs gain approval and launch in key markets such as the US, UK, Hong Kong and Australia. As institutional interest grows, banks realize they must adapt to remain competitive.
Standard Chartered’s offering of direct Bitcoin trading capabilities reflects the accelerating mainstream adoption of Bitcoin. It signals that banks are viewing Bitcoin as a crucial new asset class that they can no longer avoid.
This infrastructure expansion will in turn enable broader institutional adoption. Other major banks are likely to follow Standard Chartered’s lead by rolling out spot Bitcoin trading.