The bank is targeting institutional clients including corporates, investors and asset managers with its spot Cryptoasset trading.
Standard Chartered has launched an integrated digital assets trading service for institutional clients that includes spot trading for Bitcoin (XBT/USD) and Ether (XET/USD) through its U.K. branch and will be introducing non-deliverable forwards (NDFs) trading, officials say.
Officials at the bank say this move 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 digital asset embrace is “in line with its commitment to offer clients safe, trusted and efficient digital assets solutions and following the successful launch of its digital assets custody service,” according to the announcement. “The trading offering is fully integrated with Standard Chartered’s existing platforms, allowing institutional clients to access and trade cryptoassets through familiar FX interfaces. Clients can settle to their choice of custodian, including Standard Chartered’s secure digital assets custody solutions.”
“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. 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,” says Bill Winters, Group Chief Executive of Standard Chartered, in a prepared statement.
“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 tokenization services, through another venture, Libeara,” officials note.
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