Standard Chartered has launched a digital asset trading service that allows institutional clients, including corporations, investors and asset managers, to conduct spot trading in Bitcoin and Ether.
The London-headquartered bank said the move makes it the first global systemic bank to offer cryptoasset trading to institutional investors.
Through this service, institutional clients will be able to trade Bitcoin and Ether via the bank’s UK brand, and trading in non-deliverable forwards (NDFs) will also be introduced soon, the company said on Tuesday.
The trading offering is fully integrated with Standard Chartered’s existing platforms, allowing institutional clients to access and trade cryptoassets through familiar FX interfaces.
Customers can also choose their own custodian, including Standard Chartered’s secure digital asset custody solutions.
The service expands Standard Chartered’s growing range of capabilities in the digital asset space, with the multinational bank already offering digital asset custody and trading services through its corporate and investment bank and through its Zodia Custody and Zodia Markets initiatives, as well as digital asset tokenisation services through another initiative, Libeara.
As an FCA-registered cryptoasset service provider, Standard Chartered emphasised that customers will benefit from the advantages of working with a regulated global bank, including institutional-grade risk controls and access to a global trading platform.
Commenting on the launch, Bill Winters, group chief executive of Standard Chartered, emphasised that digital assets are a key element of the evolution of financial services, enabling new avenues of 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,” he added.
