Happycoin.club - Global banking firm Standard Chartered (LON:STAN) plans to establish a Bitcoin and Ether spot trading desk, making it one of the first known banks to provide direct BTC spot trading services.
Standard Chartered has had a favorable stance on Bitcoin for several years and has taken steps to meet growing institutional demand.
“We are working closely with regulators to support our institutional clients’ demand for Bitcoin and Ether trading,” the bank said.
The bank currently offers custody services for Bitcoin and cryptocurrencies through investments in Zodia Custody, and is also a sponsor of Zodia Markets, which is engaged in institutional trading of Bitcoins and cryptocurrencies.
The formation of a new trading desk marks the next step in Standard Chartered's strategy to integrate Bitcoin-based services.
This initiative coincided with the approval and launch of Bitcoin ETFs in markets such as the US, UK, Hong Kong and Australia. As institutional interest grows, banks are realizing the need to adapt to remain competitive.
