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Standard Chartered to Launch Cryptocurrency Trading Desk for Proactive Investors
Proactive Investors – Standard Chartered PLC (LON:) is launching a cryptocurrency trading desk, making it one of the first global lenders to offer spot trading of digital currencies.
Both Ether and Ether will be available for trading and will be part of the London-listed bank’s foreign currency trading division, Friday’s report from the Evening Standard revealed.
Goldman Sachs (NYSE:) and other large banks have offered crypto derivatives trading, but lenders have found it difficult to offer to trade the underlying asset due to regulations.
“We have worked closely with our regulators to support our institutional clients’ demand to trade Bitcoin and, in line with our strategy, to support clients across the entire digital asset ecosystem, from access and custody to tokenization and to interoperability,” Standard Chartered said.
The London-based bank has previously invested in cryptocurrency firms such as Zodia Custody and Zodia Markets, which offer services such as asset safeguarding and trading.
In November, it launched a blockchain division called Libeara to help organizations tokenize more common assets.