Standard Chartered Launches Bitcoin and Ethereum Spot Trading for Institutions
Standard Chartered has introduced spot trading services for Bitcoin (BTC) and Ethereum (ETH), becoming the first major global bank to offer such services to institutional clients. This development marks a significant milestone in the integration of cryptocurrencies into traditional finance.
Key Features of the Service
- Direct spot trading for Bitcoin and Ethereum
- Seamless integration with existing institutional trading platforms
- Initial availability during Asian and European market hours
- Potential expansion to near-24/5 access based on demand
Institutional Adoption of Cryptocurrencies
The move by Standard Chartered reflects growing institutional acceptance of digital assets. Bill Winters, Group Chief Executive, stated: “Digital assets represent an important evolution in financial services.” This initiative may encourage other traditional financial institutions to explore cryptocurrency offerings.
Market Outlook and Predictions
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, maintains a bullish outlook, forecasting Bitcoin could reach $135,000 by Q3 and $200,000 by year-end. Key factors include increasing ETF adoption and favorable regulatory developments.
Future Expansion Plans
The bank intends to broaden its cryptocurrency services, including the introduction of non-deliverable forwards (NDFs) trading. This expansion aligns with Standard Chartered’s strategy to provide regulated, institutional-grade access to digital assets.
