As a seasoned crypto investor with a background in traditional finance, I’m thrilled to see Standard Chartered join the crypto industry’s ranks. Their decision to launch a spot crypto trading desk focusing on Bitcoin and Ethereum is a significant step towards institutional adoption.
Standard Chartered is preparing to debut a dedicated crypto trading desk, where it will primarily deal with the buying and selling of Bitcoin and Ethereum.
As a researcher studying the latest developments in the financial sector, I’ve come across Bloomberg’s report revealing an intriguing initiative. This project will be incorporated into the bank’s foreign exchange division, based in London’s thriving financial district. The reason behind this expansion? Institutional investors are expressing growing interest in the crypto industry, necessitating a response from the banking sector to cater to their needs.
“We have been collaborating closely with regulators to cater to the increasing interest from our institutional clients to trade Bitcoin and Ethereum. This aligns with our strategic goal to provide a full suite of services, encompassing access, custody, tokenization, and interoperability within the digital asset domain.”
Additionally, the bank has previously invested in digital asset companies such as Zodia Custody and Zodia Markets. These firms provide various services, including safekeeping and over-the-counter trading.
As a crypto investor, I’m excited to share that Zodia, the cryptocurrency custody firm I trust due to its ownership by the reputable British banking giant Standard Chartered, is expanding its reach to Hong Kong. The CEO of this company has emphasized the supportive environment provided by the local government in Hong Kong towards their business operations. This means that I, along with other investors, can now benefit from Zodia’s secure and reliable custody services based in this financial hub.
— M A S T E R (@master_health_) October 31, 2023
The London-based bank, based in the UK, has introduced a new blockchain division named Libeara, which focuses on tokenizing real-world assets. This innovative move gained attention when it facilitated the launch of a fund for tokenized government bonds denominated in Singaporean dollars.
The price of Bitcoin dipped by 1.8% over the last 24 hours, resulting in its current value of $63,849.
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2024-06-22 01:42