|
Getting your Trinity Audio player ready...
|
Key Takeaways:
- Standard Chartered becomes the first global bank to launch spot BTC and ETH trading for institutions.
- The service is part of a broader digital assets push, including custody and crypto derivatives.
- The bank’s bullish outlook on Bitcoin, predicting a surge to $200,000 by year-end, underscores its long-term crypto commitment.
British banking giant Standard Chartered has officially entered the crypto trading arena, announcing the launch of spot Bitcoin (BTC) and Ethereum (ETH) trading for institutional clients. The move marks a major milestone in the convergence of traditional finance and digital assets, offering secure, regulated access to cryptocurrencies via the bank’s UK branch.
The trading pairs include BTC/USD (XBT/USD) and ETH/USD (XET/USD), with plans to add non-deliverable forwards (NDFs) or crypto derivatives later in 2025.
Institutional Demand Fuels Crypto Expansion
Standard Chartered’s initiative follows a clear uptick in demand for regulated crypto exposure from institutional players such as asset managers, corporates, and hedge funds.
Group CEO Bill Winters stated, “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.”
This launch complements the bank’s existing digital asset custody solutions, which are already available through its subsidiary Zodia Custody. Clients can also select third-party custodians, showcasing the bank’s flexibility and client-first approach in building a trusted institutional crypto infrastructure.
FCA Registration Adds Regulatory Trust
As an FCA-registered crypto asset service provider, Standard Chartered enhances its credibility in the eyes of institutional investors seeking regulated and secure exposure to crypto. The move signals a deepening commitment by TradFi players to bridge the gap between conventional finance and the blockchain economy.
This also positions Standard Chartered as a competitive force in a space traditionally dominated by specialized crypto exchanges.
Also Read: Standard Chartered Sets $200K Bitcoin Target
Bitcoin Price Outlook Remains Bullish Despite Pullback
Despite the recent dip in BTC price to around $116,790, Standard Chartered maintains a highly optimistic outlook. In recent months, the bank forecasted that Bitcoin could hit $135,000 by September and even touch $200,000 by the end of the year, citing growing institutional inflows and limited supply as major catalysts.
Meanwhile, Ethereum (ETH) also experienced a slight decline, falling over 2% to trade below the crucial $3,000 support level, amid broader market consolidation ahead of the U.S. CPI report.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
