Multinational bank Standard Chartered could launch a Bitcoin (BTC) trading desk and…
Multinational bank Standard Chartered may launch a trading desk for Bitcoin (BTC) and Ethereum (ETH).
If launched, it would make the bank one of the first global banking institutions to engage in cryptocurrency spot trading.
Standard Chartered BTC and ETH Trading Desk
On June 21, Bloomberg announced that the Cryptocurrency Desk would soon begin operations. Citing unnamed sources, the report said the offering will be made through the bank’s foreign exchange trading unit and will be operated from London, United Kingdom.
Cointelegraph contacted Standard Chartered, but the bank neither confirmed nor denied the report. However, the bank revealed that there is demand from its customers to enter BTC and ETH. They wrote:
“We are working closely with our regulators to meet demand from our institutional clients for trading Bitcoin and Ethereum, in line with our strategy to support clients across the digital asset ecosystem, from access and retention to tokenization and interoperability.”
A representative for Standard Chartered declined to make further comment.
Cryptocurrency Community Celebrates Bank’s Potential Cryptocurrency Move
Although Standard Chartered has not confirmed the move, members of the cryptocurrency community have celebrated the potential development.
Twitter user Believes The move could be a “milestone” and a major endorsement of the growing legitimacy of cryptocurrencies. Additionally, the user believes this could build investor confidence and boost adoption. Another user Repeat Sentiment He said that BTC and ETH exchanges may gain greater acceptance among the general public due to the new development.
Meanwhile, Binance CEO Richard Teng spoke to X to welcome the multinational bank to the cryptocurrency space.
Another community member believes the bank plan Serving the big players in traditional finance, in the hope that more money will flow into Bitcoin.
about: Standard Chartered expects Securities and Exchange Commission to give ETF green light this week
Goldman Sachs clients are getting into cryptocurrencies
Besides Standard Chartered, multinational bank Goldman Sachs said many of its clients are showing renewed interest in crypto assets this year.
On March 24, Max Minton, CEO of Goldman Sachs, confirmed that clients were exploring the cryptocurrency sector. The approval of spot bitcoin exchange-traded funds (ETFs) in the United States has led to a surge in institutional interest, Minton said.
review: Crypto Rumors Spark Panic in Korea, Binance Airdrops to BNB Traders: Asia Express
