This bank will roll out its service to select investors and position itself as the world’s first global major bank to offer it.
According to Reuters, a report on Tuesday reportStandard Chartered has launched spot trading of Bitcoins (BTCEthereum (ETHThe service will be offered exclusively to institutional clients, including corporates, asset managers and professional investors. This service is available to all institutional clients including corporations, asset managers and professional investors.
It is an important step that positions the company as the world’s first bank to deliver regulated access to the crypto spot markets. Customers will be able trade BTC and ETH via familiar FX trading platforms, while support for non-deliverable options is set to come in the future.
Standard Chartered CEO Bill Winters commented on the launch, stating that it is aimed to meet the growing demand for secure, compliant, and efficient access to trading digital assets.
“As client demand accelerates further, we want to offer clients a route to transact, trade, and manage digital asset risk safely and efficiently within regulatory requirements,” Winters is quoted as saying in the report.
Standard Chartered has been one of few to fully regulate and trade crypto assets in real time. The bank is building on its broader digital assets strategy that already supports Zodia Custody Two regulated platforms that focus on the institutional infrastructure of crypto are Zodia Markets and Coinbase.
Standard Chartered now offers spot crypto trades, proving that institutional investors are embracing crypto assets such as BTC, ETH and more, in addition to their use on paper. This move by the bank is not isolated and it’s part of an industry-wide trend.
As crypto adoption goes mainstream, institutions are stepping up to meet the demand.
Traditional financial giants are increasingly taking cryptocurrency seriously. This is because the asset has solidified its position as a viable investment option with a long-term outlook.
Bitcoin broke through the Top 6 in recent times global assets by market capSilver and Google are no longer in the lead. The surge in the market has been fueled by strong ETF inflowsMajor asset managers such as BlackRock and Fidelity are driving this trend. a wave of corporate adoption.
Bitcoin and Ethereum both had a strong week last, BTC rising 12% while ETH grew 10%. Bitcoin hit a new all-time high Ethereum has a value of $133,000 while the USD is only $123,000 rallied past $3,000The company bounced back after months of sub-performance.
Prices have since cooled down to modest levels, but the rally reinforced once more that BTC/ETH aren’t just fringe assets anymore, they are formidable players on the world financial scene.
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Source: crypto.news
