Standard Chartered, a multinational bank, is reportedly making moves to launch a Bitcoin (BTC) and Ether (ETH) trading. This initiative could establish the bank as one of the first global financial institutions to enter into crypto trading.
According to Bloomberg’s report on June 21, an anonymous source suggested that the crypto desk is set to commence operations soon under the bank’s FX trading unit in London, United Kingdom. When contacted by Cointelegraph Standard Chartered neither confirmed nor denied these claims but did acknowledge client demand for BTC and ETH opportunities. In their statement, they mentioned working closely with regulators to meet institutional clients’ needs and support them across various aspects of digital asset transactions.
While Standard Chartered hasn’t officially confirmed this move, members of the crypto community have expressed enthusiasm about its potential impact. One Twitter user believes it could be a significant step forward for legitimizing cryptocurrencies and might increase investor confidence driving adoption.
The news has also been welcomed by Binance CEO Richard Teng who it as an encouraging step toward mainstream acceptance of BTC and ETH trading within traditional finance circles.
This development aligns with increasing interest in cryptocurrency assets among major banking institutions. Sachs has also indicated renewed client interest in crypto assets following the approval of spot Bitcoin exchangeaded funds (ETFs) in the United States earlier this year.
Overall Summary:
Multinational bank Standard Chartered is reportedly preparing to launch a Bitcoin (BTC) and Ether (ETH) trading desk which mark its entry into spot cryptocurrency trading. The move reflects growing institutional interest in these digital within traditional finance circles as evidenced by similar actions taken by other major banking institutions like Goldman Sachs