Standard Chartered Bank has launched a trading desk for Bitcoin and Ethereum, making it one of the first banks globally to offer cryptocurrency trading. According to sources, the new cryptocurrency trading desk will be integrated into the bank’s foreign exchange trading department and will be based in London. A trading desk is a department within a bank or company that facilitates the buying and selling of securities such as bonds, stocks, currencies, and commodities to provide liquidity for financial institutions or companies. These institutions typically earn commissions through trading activities. They also provide support for clients in establishing financial products, opportunities, and support agreements signed between investors and companies.
Read more:
Another U.S. state revokes license of Binance.US
Statement:
Standard Chartered Bank stated:
“We work closely with regulatory authorities to support the trading needs of institutional clients in Bitcoin and Ethereum, aligning with our strategy to provide support for our clients in a broader digital asset ecosystem, from access and custody to tokenization and interoperability.”
This move reflects a broader trend being investigated by major financial institutions in blockchain, despite the challenges and volatility in the cryptocurrency market.
