BREAKING: Standard Chartered becomes one of the first global banks to enter cryptocurrency trading

Standard Chartered launches Bitcoin and Ethereum trading desk, becoming one of the first global banks to launch spot cryptocurrency trading.

According to sources familiar with the matter, the new crypto trading desk, which will be integrated into the bank's FX trading unit, is close to operational status and will be based in London.

Trading Desk (Trading Desk) is a department in a banking institution or company where securities such as bonds, shares, currencies, commodities, etc. are bought and sold to facilitate their own or client trading in the financial markets and therefore provide liquidity to the market.

Such bureaus usually earn commissions as a result of trading activities. They also provide support to clients in structuring financial products, opportunities and supporting agreements that are entered into between investors and businesses.

В statement of Standard Chartered stated:

We work closely with our regulators to support the demand from our institutional clients to trade with Bitcoin и Ethereum , in line with our strategy to support clients across the broader digital asset ecosystem, from access and custody to tokenization and interoperability.

The move reflects a broader trend among major financial institutions to investigate Block opportunities despite the challenges and volatility of the crypto market.