Cryptocurrency-friendly lender Standard Chartered claims to boast the rights to be the first global bank to offer spot trading in Bitcoin
and ether (Eth) to institutional clients.
The offer, which was rolled out through the bank’s British branches, is originally available through our British unit in Asia and Europe trading hours, with 24/5 access to consideration as client needs develop, said Rene Michau, global leader of digital assets.
“Standard Chartered is the first global systemically important bank to offer cryptoasset trading.” Michau said in an E email. “We define institutional customers as financial institutions such as asset managers and investors and large multinational companies that are customers in our business and investment bank division.”
Standard Chartered has been involved in crypto and digital assets for some time. The bank now offers custody of digital assets and trade through its business and investment bank, and through the companies, Stanchart I invested in, such as Zodia parenting authority and Zodia markets. It also offers digital asset tokenization services through its portfolio company Libeara.
The new service is integrated into standard Chartered’s existing trading platforms that provide companies, asset managers and institutional investors access to crypto markets through well -known eg interventions. Customers can run trades to a custodian of their choice, including standard Chartered’s internal custody service.
Focus for now remains on BTC and ETH Spot Trading with plans to expand Services Suite to these crypto assets, including the introduction of non-delivered forward (NDFS) Trade, Michau said.
