Key Takeaways
- Standard Chartered is launching a spot Bitcoin trading desk in London.
- The bank has been positive on Bitcoin for years and is responding to growing institutional demand.
- This move is part of the broader mainstream adoption of Bitcoin by major financial institutions.
Global banking giant Standard Chartered is preparing to launch a spot trading desk for Bitcoin and ether, becoming one of the first major banks to offer direct Bitcoin trading services.
The London-based trading desk will be integrated into the bank’s FX trading unit and is expected to start operations soon.
According to Bloomberg, Standard Chartered has long been supportive of Bitcoin and is now responding to increasing institutional demand. The bank stated:
We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ether.
Currently, Standard Chartered offers crypto custody through its stake in Zodia Custody and is also an investor in Zodia Markets, which facilitates institutional Bitcoin and crypto trading.
The new trading desk is a significant step in Standard Chartered’s broader strategy to expand its Bitcoin services.
