Breaking news! Giant Bank Starts Spot Transactions for Bitcoin and Ethereum.
There was a hot development in the cryptocurrency world today. Standard Chartered, a pioneer among global banks, is preparing to open a trading desk for #Bitcoin and #Ethereum , according to sources familiar with the matter, as reported by Bloomberg. This move makes Standard Chartered the first major financial institution to step into spot cryptocurrency trading.
Sources, who requested anonymity due to the sensitivity of the information, stated that the crypto trading desk to be established is approaching operational readiness and will be integrated into the bank's existing FX trading unit. The unit, which is expected to be headquartered in London, will place Standard Chartered in a strategic location within the global financial hub where significant crypto trading activity already takes place.
The meaning of this initiative for the cryptocurrency world can now be considered as a sign that they are being adopted within traditional finance.
With Standard Chartered's decision to establish a crypto trading desk, many institutional and individual investors who have not yet entered the field will now be introduced to cryptocurrencies. Despite this positive development, Bitcoin has fallen to the level of $ 63,600.
