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The British multinational banking and financial services firm Standard Chartered is initiating a spot cryptocurrency trading platform for bitcoin and ethereum, Bloomberg sources reveal.
Sources Say Standard Chartered Ready to Launch Bitcoin and Ethereum Trading Operations
On June 21, Bloomberg’s Emily Nicolle cited sources knowledgeable about the plans, stating that Standard Chartered is on the verge of introducing a spot cryptocurrency trading desk that will handle transactions in bitcoin (BTC) and ethereum (ETH). This new venture will operate within its foreign exchange (FX) division.
“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,” Standard Chartered told Nicolle by email.
Standard Chartered has long been engaged in cryptocurrency investments, and its analysts foresee bitcoin reaching six figures. The British bank’s market strategists have recently outlined predictions that BTC could climb to $100,000 within this year and potentially $150,000 should Trump win the election. Furthermore, the financial institution’s analysts had accurately forecasted that the U.S. Securities and Exchange Commission (SEC) would greenlight the spot ethereum exchange-traded funds (ETFs).
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