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Standard Chartered, a major global banking institution, is establishing a trading desk for Bitcoin and Ethereum, marking it as one of the first significant international banks to engage in spot cryptocurrency trading.
This new trading desk, based in London, will be part of the bank’s existing foreign exchange (FX) trading unit and is set to launch soon.
The bank has been collaborating closely with regulators to ensure that the new trading desk meets all compliance requirements. Standard Chartered stated:
“We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability.”
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This move is part of Standard Chartered’s broader strategy to integrate cryptocurrencies into its range of services. The trading desk aims to provide institutional clients with a smooth and secure way to trade Bitcoin and Ethereum.
In related news, Standard Chartered has made bold forecasts about Bitcoin’s future. The bank predicts that Bitcoin could reach an all-time high of $250,000 by 2025 and stabilize around $200,000 after peaking.
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