Standard Chartered Bank to Launch Bitcoin and Ethereum Trading Platform: Actively Supporting Customer Demand

Bloomberg reported that Standard Chartered Bank is preparing to launch a trading platform for Bitcoin and Ethereum, becoming one of the first global banking institutions to open cryptocurrency spot trading. Standard Chartered has not confirmed or denied this, but indicated that there is indeed demand from its institutional clients for such services, and the bank has been actively exploring and collaborating in this area.

Standard Chartered Bank Plans to Launch BTC and ETH Trading Platform

Reports indicate that Standard Chartered Bank is in the process of creating a cryptocurrency spot trading platform for buying and selling Bitcoin and Ethereum.

Bloomberg notes that the trading platform will be part of Standard Chartered Bank's foreign exchange trading division and will operate in London.

Interestingly, Standard Chartered has not explicitly confirmed this move, only vaguely stating that there is indeed a demand for such transactions from the bank's clients:

We have been working closely with regulators to support the trading demand for Bitcoin and Ethereum from our institutional and corporate clients.

They also added, "This is in line with our strategy to support clients within a wider digital asset ecosystem, from custody, tokenization, to operational capabilities."

Previously, most other banks only traded in cryptocurrency derivatives, which is why Standard Chartered's move is being closely watched.

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Crypto Community Celebrates Together

Despite Standard Chartered not officially confirming the news, the crypto community has expressed excitement over this potential development.

Firstly, Binance CEO Richard Teng welcomed Standard Chartered Bank's entry into the crypto space on social media platform X here.

Additionally, another user believes that Standard Chartered's move is a "significant step" and a major validation of the legitimacy of cryptocurrencies:

This may increase investors' confidence and drive adoption, thereby attracting more funds.

Standard Chartered Actively Engages in Bitcoin Price Movements

As a supporter of digital asset custody firm Zodia Custody and its trading division Zodia Markets, Standard Chartered Bank's move marks the next step in entering the crypto space.

Similarly exploring the crypto space is Wall Street giant Goldman Sachs, with its Asia-Pacific digital assets head Max Minton revealing in March that many of the company's large clients have recently begun exploring the cryptocurrency sector:

The recent approval of Bitcoin spot ETF has sparked interest among our clients and a revival of related activities.

On the other hand, Standard Chartered is particularly interested in the crypto market and Bitcoin prices, often issuing predictions on Bitcoin prices every few months.

Standard Chartered, Matrixport Predict Bitcoin to Hit New Highs in Days, ETH ETF Approval to Provide Bullish Support

Of course, as a multinational financial group, any comments and analyses publicly released about any market still require further verification.