Standard Chartered launches Bitcoin and Ether trading for institutions

Multinational bank Standard Chartered has launched a new trading service allowing institutions and corporations to trade major cryptocurrencies.

Standard Chartered is rolling out spot trading for Bitcoin (BTC) and Ether (ETH) through its UK branch, the company said in a statement shared with Cointelegraph on Tuesday.

“Digital assets are a foundational element of the evolution in financial services. They’re integral to enabling new pathways for innovation, greater inclusion and growth across the industry,” Standard Chartered group chief executive Bill Winters said.

The offering will be initially available via Standard Chartered’s UK entity during Asia and Europe trading hours, with 24/5 access under consideration as client demand evolves, a spokesperson for the bank told Cointelegraph.

Standard Chartered clients can choose where to store crypto

Standard Chartered’s new crypto offering is fully integrated with the bank’s existing platforms, enabling institutional clients to access and trade crypto assets through familiar foreign exchange interfaces, the announcement said.

The service also allows investors to select their preferred custodian, or choose from multiple providers for storing their crypto assets, including Standard Chartered’s proprietary custody solutions and Zodia Custody, the bank’s affiliated custody provider.

As previously mentioned, Standard Chartered has been actively rolling out its crypto custody services, launching a regulated custody offering for Bitcoin and Ether in the United Arab Emirates last September.

Following the UAE launch, the bank also secured a license to offer custody services in Luxembourg last January.

Future plans

After the spot trading launch, Standard Chartered expects to soon expand the offering with crypto non-deliverable forwards (NDFs), or two-party derivatives contracts.

When asked about potential expansion beyond institutional clients, Standard Chartered declined to comment on whether it plans to extend the offering to retail customers in the near future.

“At this stage, we are only focusing on our corporate and investment banking clients,” the bank’s representative said.

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