Bloomberg said on Friday that Standard Chartered (STAN) is setting up a spot trading desk for the purchase and sale of ether and bitcoin. According to the article, which cites people with knowledge of the situation, the bank’s FX trading unit will incorporate the new London-based desk when it opens for business.
Standard Chartered was among the first international banks to provide spot bitcoin trading, even though other institutions have been dealing with cryptocurrency derivatives for some time.
According to the report, Standard Chartered said in an email, “We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability.” The financial behemoth is now well-known for its support of digital asset custodian Zodia Custody and its exchange subsidiary Zodia Markets.