Standard Chartered (Stan) is now providing banking services to the institutional Prime broker Falconx.

San Mateo, California headquarters’ broker, is given access to a number of currency pairs, helping to improve the speed and reliability of its cross-border settlement, Falconx said in a message on Wednesday.

Prime brokers are an important gear in the financial markets that provide financing, trade and custody to large institutions.

Falconx tries to bridge the gap between traditional economy and cryptocurrency by bringing up its service to the level one would find at a tradfi institution.

The primary broker also plans to use Standard Chartered’s bank support as an entry port to other products and services that would attract institutional clients, such as asset managers, hedge funds, token issuers and payment platforms.

Standard Chartered already has its foot in the door of the crypto industry as a majority shareholder in Digital Asset Custodian Zodia -Parent Authority and its exchange arm Zodia markets.

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