Standard Chartered to Launch Spot Crypto Trading for Bitcoin and Ethereum

Standard Chartered Bitcoin trading
Standard Chartered, the British multinational banking and financial services company, is preparing to launch a spot cryptocurrency trading platform for Bitcoin and Ethereum, according to Bloomberg sources.

New Cryptocurrency Trading Platform Set to Launch

On June 21, Bloomberg’s Emily Nicolle reported that Standard Chartered is on the brink of introducing a spot cryptocurrency trading desk. This new platform will facilitate transactions in Bitcoin (BTC) and Ethereum (ETH) and will operate within the bank’s foreign exchange (FX) division.

“We have been collaborating closely with our regulators to meet the demand from our institutional clients for trading Bitcoin and Ethereum. This initiative aligns with our strategy to assist clients across the broader digital asset ecosystem, including access, custody, tokenization, and interoperability,” Standard Chartered communicated to Nicolle via email.

Long-Standing Interest in Cryptocurrency

Standard Chartered has a history of engaging in cryptocurrency investments, and its analysts have a bullish outlook on Bitcoin. The bank’s market strategists recently projected that Bitcoin could reach $100,000 this year and potentially climb to $150,000 depending on political developments.

Additionally, Standard Chartered’s analysts correctly predicted that the U.S. Securities and Exchange Commission (SEC) would approve spot Ethereum exchange-traded funds (ETFs).

This move into spot cryptocurrency trading underscores Standard Chartered’s commitment to supporting the evolving digital asset landscape and meeting the growing demand from institutional clients.

Also Read: Winklevoss Twins Donate $2M in Bitcoin to Trump, Criticize Biden’s Crypto Policies

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