Standard Chartered, a British multinational bank, is set to launch a trading desk for Bitcoin and Ether, becoming one of the first global banks to offer spot cryptocurrency trading.
The new desk, nearly operational and based in London, will be integrated into the bank’s FX trading unit. Although not officially confirmed, the bank has highlighted increasing institutional demand for Bitcoin and Ethereum.
It has also predicted that Bitcoin could reach $250,000 by 2025 if spot ETF inflows reach $75 billion. Standard Chartered has been active in the digital assets space, partnering with several entities and holding stakes in Zodia Custody and Zodia Markets, which provide custody and trading services.
The bank also has a strategic partnership with Coinbase for Singapore users and launched “Libeara,” a blockchain division focused on tokenizing traditional assets.
In a February blog post, the bank emphasized digital assets as a key part of the future of financial services and highlighted the potential of stablecoins.
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