Stanchart Launches Bitcoin and Ether Trading for Institutions

In line with its commitment to offer clients safe, trusted digital and efficient assets solutions and following the successful launch of its digital assets’ custody service, the UK-based Cryptocurrency-friendly lender Standard Chartered on Tuesday announced the launching of a fully integrated digital assets trading service for institutional clients.

The offering includes spot trading for Bitcoin (XBT/USD) and Ether (XET/USD) through its UK branch and will soon be introducing non-deliverable forwards (NDFs) trading.

This makes Standard Chartered the first global systemically important bank to offer deliverable spot Cryptoasset trading for institutional clients including corporates, investors and asset managers.

The trading offering is fully integrated with Standard Chartered’s existing platforms, allowing institutional clients to access and trade crypto assets through familiar FX interfaces. Clients can settle to their choice of custodian, including the bank’s secure digital assets custody solutions.

As a UK Financial Conduct Authority (FCA)-registered crypto asset service provider, clients benefit from the assurance of dealing with a regulated global bank, supported by robust balance sheet capabilities, institutional-grade risk controls, and world-class trading platform.

Digital Assets Crucial

Bill Winters, Group Chief Executive of Standard Chartered said that digital assets are a foundational element of the evolution in financial services. They are integral to enabling new pathways for innovation, greater inclusion and growth across the industry.

“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 added.

Tony Hall, Global Head of Trading and XVA, Markets, at Standard Chartered, said that they were applying their global expertise, infrastructure and risk management frameworks that the bank’s clients’ trust to the digital assets space.

“With growing interest in regulated digital assets solutions, we are well positioned to meet client needs while capturing the opportunities in this space,” Hall added.

Standard Chartered has been actively rolling out its crypto custody services, launching a regulated custody offering for Bitcoin and Ether in the UAE last September.

Operating within Standard Chartered’s regulated banking framework, this offering is uniquely positioned to remove many of the barriers institutional clients faced when they were entering the crypto space.

The offering is the latest expansion in Standard Chartered’s growing suite of digital asset capabilities. Standard Chartered now offers digital assets custody and trading through its Corporate and Investment Bank, and through its ventures, Zodia Custody and Zodia Markets and digital asset tokenisation services, through another venture, Libeara.