Standard Chartered, a multinational bank, is reportedly considering launching a trading desk for Bitcoin (BTC) and Ether (ETH), making it one of the first major global banks to enter the spot crypto trading market. According to anonymous sources cited by Bloomberg on June 21, the crypto desk will operate under the bank’s FX trading unit and be based in London, United Kingdom.
When contacted by Cointelegraph, Standard Chartered did not confirm or deny the report, but acknowledged the demand from its clients to trade BTC and ETH. The bank stated that it has been working closely with regulators to support this demand and align with its strategy of providing services across the digital asset ecosystem.
Although the move has not been officially confirmed, members of the crypto community have expressed excitement about the potential development. Some believe that Standard Chartered’s involvement in crypto trading would be a significant step towards mainstream acceptance and could boost investor confidence and adoption. Binance CEO Richard Teng welcomed the bank’s potential entry into the crypto market.
Another community member speculated that Standard Chartered may be preparing to cater to large players in traditional finance, which could lead to increased investment in BTC.
In addition to Standard Chartered, Goldman Sachs, another multinational bank, has also noted a renewed interest in crypto assets among its clients this year. The approval of spot Bitcoin exchange-traded funds in the United States has reportedly sparked institutional interest in the crypto sector.