Multinational bank Standard Chartered has launched a new trading service allowing institutions and corporations to trade major cryptocurrencies.
Standard Chartered is rolling out spot trading for Bitcoin (BTC) and Ether (ETH) through its UK branch, the company said in a statement shared with Cointelegraph on Tuesday.
Following the spot trading launch, the bank plans to expand the offering soon with crypto non-deliverable forwards (NDFs), or two-party derivatives contracts.
“Digital assets are a foundational element of the evolution in financial services. They’re integral to enabling new pathways for innovation, greater inclusion and growth across the industry,” Standard Chartered group chief executive Bill Winters said.
Standard Chartered clients can choose where to store crypto
Standard Chartered’s new crypto offering is fully integrated with the bank’s existing platforms, enabling institutional clients to access and trade crypto assets through familiar foreign exchange interfaces, the announcement said.
The service also allows investors to select their preferred custodian, or choose from multiple providers for storing their crypto assets, including Standard Chartered’s proprietary custody solutions.
As previously mentioned, Standard Chartered has been actively rolling out its crypto custody services, launching a regulated custody offering for Bitcoin and Ether in the United Arab Emirates last September.
This is a developing story, and further information will be added as it becomes available.
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