Standard Chartered Launches Spot Crypto Trading for Institutional Clients

British multinational financial conglomerate Standard Chartered has unveiled a fully integrated spot crypto trading service for institutional clients. The latest launch makes the banking giant the first global systemically important bank to offer clients access to spot crypto trading. 

Spot BTC and ETH Trading on Standard Chartered 

According to an official press release on Tuesday, the spot trading service is available for the two major crypto assets, bitcoin (BTC) and Ether (ETH). Standard Chartered’s institutional clients, including corporations and asset managers, can now trade the XBT/USD and XET/USD pairs on its platform.

Notably, to ensure seamless transactions for investors, Standard Chartered has integrated the new spot trading service into its existing foreign exchange platforms. This integration will help investors access and trade crypto assets using familiar trading interfaces.

Per the announcement, Standard Chartered clients can settle trades using multiple available crypto custodians, including the bank’s own digital asset custody solution. Commenting on the rollout, Standard Chartered’s group chief executive, Bill Winters said,

“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.”

In addition to the spot crypto trading service, Standard Chartered revealed plans to launch a crypto derivatives service for corporate clients.

Regulatory Clarity Boosts Crypto Adoption 

The latest launch comes as the crypto industry’s regulatory landscape becomes clearer. Several global regulators are taking proactive steps to introduce crypto-friendly regulations.

With this regulatory clarity, institutional interest in the crypto industry has grown exponentially. This heightened interest is evident in the success of BTC and ETH exchange-traded funds (ETFs), which have received billions of dollars in inflows since their debut. 

Meanwhile, traditional financial institutions are capitalizing on the increased demand to expand their crypto services. Operating under a regulated banking framework, these financial institutions seek to remove several barriers institutional clients face when entering the crypto industry. 

Standard Chartered operates as a digital asset provider registered with the UK’s Financial Conduct Authority (FCA). Thus, the bank offers clients regulatory assurance backed by robust balance sheet capabilities and institutional-grade risk controls.

The bank’s global head of trading, Tony Hall states,

“We are applying our global expertise, infrastructure and risk management frameworks that our clients trust to the digital assets space. With growing interest in regulated digital assets solutions, we are well positioned to meet client needs while capturing the opportunities in this space.”