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Standard Chartered is set to launch its own spot crypto trading desk, focusing on the two major cryptocurrencies: Bitcoin and Ethereum
According to <a href="https://www.bloomberg.com/news/articles/2024-06-21/crypto-trading-stanchart-launches-spot-btc-eth-desk" target="_blank" rel="noopener noreferrer nofollow">Bloomberg’s report</a>, this initiative will be integrated into the bank’s foreign exchange division, operating from London’s financial district. This move comes in response to increasing demand from institutional investors who are eager to explore the crypto industry.
We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum,” Standard Chartered stated in an email, emphasizing their commitment to the wider digital asset ecosystem. This approach aligns with the bank’s strategy to offer comprehensive services, from access and custody to tokenization and interoperability.
Moreover, the bank has already made some investments in digital asset firms including Zodia Custody and Zodia Markets, offering a range of services from secure storage to over-the-counter trading.
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 Banking Giant Standard Chartered's Crypto Custody Firm Zodia Launches in Hong Kong Zodia, a crypto custody firm owned by the British banking giant Standard Chartered, is set to introduce its services in Hong Kong. The company's CEO highlighted the Hong Kong government's and… <a href="https://t.co/O9vCuOG2P6" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/O9vCuOG2P6</a>— M A S T E R (@master_health_) <a href="https://twitter.com/master_health_/status/1719223865606381717?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 31, 2023</a>
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Additionally, the London-based bank recently unveiled Libeara, a blockchain unit dedicated to tokenizing real-world assets. This venture has already made headlines by supporting the deployment of a tokenized government bond fund using the Singaporean dollar.
This development comes as Bitcoin’s price experienced a 1.8% dip in the past 24 hours, and is currently trading at $63,849.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXePvY7DmKfbNZnq71F7-cJbOeBGIFY5JxvInFppAUA3suNybAzXGHUJYtQRpZ09-OoSzoggYc0-pauY3VQ4jFB6f2EI1Ol4g5VgoGCngwvzaJCux2AHl9Q1gfkXa2qqXGtNxdFCyN1XXOgUxO2C0_jV7nDV?key=DmnxKN4O-PrNcvAlYPvlvQ" alt="AD 4nXePvY7DmKfbNZnq71F7 cJbOeBGIFY5JxvInFppAUA3suNybAzXGHUJYtQRpZ09 OoSzoggYc0 pauY3VQ4jFB6f2EI1Ol4g5VgoGCngwvzaJCux2AHl9Q1gfkXa2qqXGtNxdFCyN1XXOgUxO2C0 jV7nDV?key=DmnxKN4O PrNcvAlYPvlvQ">
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 Bitcoin Current Price | Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
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Standard Chartered to Launch Crypto Trading Desk for Bitcoin and Ethereum

The Crypto Times

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